Bitcoin Whales Accumulate 300% of Newly Mined Supply: Strategic Moves Ahead?

Recent on-chain data reveals a striking trend: Bitcoin whales have absorbed three times the total amount of newly mined BTC. This unprecedented accumulation raises critical questions about market dynamics and potential strategic positioning. As institutional interest grows and the 2024 halving’s supply shock reverberates, analysts are examining whether this signals preparation for a major price movement, institutional adoption, or hedging against macroeconomic uncertainty. The concentration of supply among large holders could significantly impact liquidity and volatility in coming quarters, prompting both caution and opportunity for market participants.

Bitcoin Giants Strengthen Their Hold

The latest figures released by the blockchain analysis platform Glassnode show a spectacular change in the behavior of large addresses. Over the past 30 days, “whales” and “sharks” have absorbed the equivalent of more than 300% of the newly issued bitcoin supply during the same period.

“The supply held by whales and sharks continues to increase rapidly”, note Glassnode analysts. In other words, for every mined bitcoin, these entities remove three from the market, drastically limiting available liquidity.

This accumulation dynamic is accompanied by complementary signals revealing a global transformation of market structure:

• Exchanges are recording massive net outflows: the net annual absorption rate has fallen below -200%, a level described as “historically low” by Glassnode.
• Giant wallets (> 10,000 BTC) maintain a high accumulation score: with an indicator of 0.7, these entities continue constant purchases.
• Liquidity on platforms is decreasing: the combination of these factors suggests a transfer to long-term storage wallets, reducing potential selling pressure.

This shift of BTC towards private reserves is often interpreted as a signal of confidence in the asset’s future valuation. Large holders are thus consolidating their position in a context perceived as conducive to appreciation.

A Technical Signal Favoring a Bullish Acceleration

While major holders strengthen their long-term strategy, technical indicators deliver a potentially aligned message. Bitcoin has broken through a chart pattern known as a “descending wedge”.

This type of configuration is classically interpreted as a bullish signal in technical analysis. Such a breakout could “push the BTC price to a target of $101,570 by May”, if momentum holds.

Unlike on-chain data, here graphical elements support a dynamic outlook. The breakout was confirmed by a series of candles with increasing volumes, which reinforced the credibility of this scenario.

This setup coincides with a consolidated support zone around $60,000, reinforcing the idea of a firm base for a new impulse. Crossing this threshold could open the way to major resistance levels, as well as a return of mass speculation, observed during previous bull runs.

As signals converge, the crypto ecosystem prepares for a potential market reconfiguration. The combination of a massive liquidity withdrawal, a visible accumulation strategy by large entities, and a confirmed technical signal fuels the hypothesis of an upcoming bullish wave. The question remains whether this dynamic will be sustained or if it will face macroeconomic resistance. Meanwhile, the whales seem to have already taken position.

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