Bitcoin Whales Accumulate 1K-10K BTC: Is a Major Market Rally Imminent?

Recent on-chain data reveals a notable surge in Bitcoin holdings among large-scale investors, specifically those controlling wallets containing 1,000 to 10,000 BTC. This accumulation by high-net-worth entities, often referred to as ’whales,’ signals growing confidence in Bitcoin’s long-term value proposition. Historically, such whale activity has preceded significant bullish movements in the cryptocurrency market. Analysts are closely monitoring whether this trend will catalyze a sustained upward price trajectory, potentially marking the beginning of a new market cycle. The current accumulation phase coincides with Bitcoin’s consolidation above key support levels, further strengthening the case for a potential breakout.

An accumulation pattern we’ve seen before

Since the 5th of March, the number of addresses holding 1K-10K BTC has risen steadily from 1,944 to 2,014 — an increase that closely mirrors the accumulation wave observed in April 2024.

This surge in whale wallet activity, illustrated by the rising 30-day change metric in the chart, indicates a growing appetite from large holders.

Source: Glassnode

Historically, such moves have preceded significant bullish momentum, suggesting that confidence is quietly returning to the market.

As supply on exchanges thins and whale wallets swell, the groundwork may be getting laid for Bitcoin’s next big move.

Whales are stirring

Source: X

While retail investors scrambled in panic, whales saw opportunity and pounced. On the 14th of April, a single whale snapped up 1,500 BTC worth $127 million on OKX.

Despite recent profit-taking, with over 29,000 BTC offloaded since the 9th of April, the tides are clearly shifting again.

Source: X

Two whales withdrew a staggering 4,372 BTC (around $372 million) in just 24 hours, with one pulling 500 BTC ($42.85M) from OKX alone, suggesting that despite profit-taking, whales are back in accumulation mode.

Bitcoin price outlook

Bitcoin was at $83,912 at press time, showing slight gains but lacking strong directional conviction. The RSI was near 50, signaling a neutral zone with no clear bullish or bearish momentum.

Meanwhile, the OBV remained relatively flat, suggesting weak buying pressure despite minor recoveries.

Source: TradingView

The price has formed a tight consolidation range after the early April dip, indicating market indecision.

Unless BTC breaks above the $85K resistance with convincing volume, sideways movement or even a retest of support near $80K remains on the table.

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