According to Santiment, the number of wallets holding 100 BTC or more has been steadily increasing since November 11th, indicating that whales have begun accumulating the flagship cryptocurrency.
At the same time, the number of smaller wallets, particularly those holding 0.1 BTC or less, has been declining, a classic sign of retail investor capitulation.
According to Santiment, 91 new whale wallets have appeared since November 11th, representing a 0.47% increase in this category. This increase is particularly notable because it comes at a time when Bitcoin's price is under significant pressure. Historically, long-term market lows often form when retail investors close positions and whales accumulate more assets at depressed prices. This divergence, with large holders buying and small holders selling, is often seen as a constructive long-term signal for Bitcoin.
If whales continue to accumulate Bitcoin at the current rate, it could help stabilize the price dynamics and potentially support a medium-term recovery. Currently, retail selling remains the dominant emotional trend, but large holders are gradually expanding their positions.