Whale Alert: 2,997 BTC Scooped up by This Key Holder Class

U.Today - As Bitcoin’s price hovers around crucial levels in early 2025, one particular class of BTC holders has been quietly increasing its holdings.

In a recent report, on-chain analytics firm Santiment examined how different-sized Bitcoin wallets are behaving on the network, which overall creates a very neutral signal for crypto's next few weeks.

According to Santiment, Bitcoin whales with 10 and 10,000 BTC have accumulated 2,997 BTC since Jan. 1, 2025, indicating increased confidence in Bitcoin's long-term prospects.

This holder class (10-10,000 BTC wallets), according to the report, were the main beneficiaries of the last bull rally because they accumulated significantly, while others panicked and sought to time the tops. These have accumulated a staggering 257,000 BTC since Oct. 1 and 199,000 BTC since Nov. 5. Since the end of the year, their accumulation levels have cooled slightly. However, they have added 2,997 BTC since Jan. 1, 2025.

Bitcoin wallets accumulating

A similar pattern is observed for 0-0.1 BTC wallets. During the recent bull run from October to Dec. 24, these small traders were continuously taking profits, often too early. This dumping pattern came to an end in the last few days of 2024. Since Dec. 29, they have added a small 585 BTC back into their bags as a small effort to "buy the dip." However, this is virtually flat when compared to their typical movements.

Santiment also examines the growth in Bitcoin nonempty wallets. From Oct. 13 until the end of 2024, there was a net reduction of a little over 130,000 Bitcoin wallets, providing ample justification for the bull run that ensued. Since then, there has been some growth, with an additional 84,700 wallets.

At the time of writing, Bitcoin was up 5.97% in the last 24 hours to $96,107.

This article was originally published on U.Today