Cryptoquant analyst Amr Taha has identified a potentially positive trend for Bitcoin: large holders are accumulating more coins. Specifically, wallets containing between 1,000 and 10,000 BTC have added 66,700 BTC to their holdings over the past two months, suggesting continued strong demand.
Key Takeaways
- Large Bitcoin whales accumulated 66,700 BTC while mid-tier owners aggressively sold off their holdings.
- This supply shift to larger wallets signals a positive medium-term outlook by reducing available Bitcoin.
- Strategy paused its Bitcoin purchases to raise $263.5 million through stock sales for future allocation.
Cryptoquant Analyst: Whales Keep Accumulating BTC even during market slump
While most analysts are signaling a bearish trend for the cryptocurrency market, some signs still show that demand for bitcoin is there and keeps growing.
Cryptoquant analyst Amr Taha noticed a divergence between ownership groups: large whales keep accumulating bitcoin while mid-tier owners continue to distribute their holdings.
Taha found that wallets holding between 1K and 10K BTC increased their 60-day net accumulation to 66,700 BTC, nearing levels reached on June 16. In contrast, mid-tier BTC holders, who own between 100 and 1K BTC, distributed 77,800 BTC, in what Taha labeled “one of the most aggressive selling periods visible in the current data.”
This accumulation process has been the strongest since February 17, when purchases by whales reached 106K BTC.
Taha linked this setup with a positive outcome for BTC in the future. When an opposite setup was registered, with whales distributing and mid-tier holders accumulating in April, Bitcoin experienced a downturn of -29%.
This could be because large holders are less likely to distribute and tend to hold BTC for much longer periods while sustaining sharp price decline periods more consistently than holders with less liquidity available.
In my research, I’ve observed that when large investors consistently buy and hold an asset, it can significantly decrease the readily available supply, especially if smaller investors are simultaneously selling off their holdings. As Taha pointed out, this dynamic is particularly noticeable during periods of aggressive distribution by those smaller groups.
Taha finished by saying that although this activity doesn’t guarantee where the price will go next, the fact that more Bitcoin is moving to bigger wallets could be a positive sign for its future in the medium term.
Nonetheless, Strategy, the largest corporate holder of bitcoin, did not announce any BTC purchases this week and instead chose to accumulate $263.5 million through stock sales, with speculation growing on how these resources will be allocated.
2026-07-21 01:28