65,000 Bitcoin in a Week: BTC Whales Grow Hungry
On-chain data shows large investors have added about 65,000 Bitcoin to their wallets in just one week.
On-chain data shows that major investors have added roughly 65,000 Bitcoin to their wallets in just one week. The price itself remains relatively stable for the moment.
According to a recent CryptoQuant analysis, so-called Bitcoin whales have expanded their holdings sharply over the past seven days. This marks the strongest weekly net gain in months.
CryptoQuant defines whales as investors holding between 100 and 1,000 Bitcoin. Larger players with even more substantial positions fall into a separate "super-whales" category.
The figures suggest this segment has been buying notably more recently. Collectively, whales now own more than 3.5 million Bitcoin, a sizable share of the circulating supply.
Notably, the purchases are happening while available exchange reserves continue to shrink. That means there’s less Bitcoin readily tradable on exchanges, even as certain groups steadily grow their holdings.
"The combo of whale accumulation, purchases by long-term investors, and shrinking exchange reserves creates the conditions for a supply shock," CryptoQuant says. "Under the surface of current volatility, the groundwork is being laid for the next strong upside move."
A similar pattern has shown up in previous market cycles, when larger wallets expanded their positions during periods of dwindling reserves.
Meanwhile the Bitcoin price continues to consolidate around the $115,000 mark. On a weekly basis, the leading cryptocurrency is roughly 2% higher. Analysts caution about rising volatility in the coming week, as the Fed is expected to cut rates — a move market watchers say could move the crypto market significantly.
