Bitcoin Whales Accumulate Over $5.3 Billion in Past Month—Signaling Strong Confidence in the Price

Bitcoin’s biggest investors have been on a buying spree, adding over 40,000 BTC in the past month—signaling strong confidence in the price.

Bitcoin (BTC) price has been a subject of heated debate in recent months, with some predicting a massive rally to $350,000 while others remain skeptical.

However, recent data from CryptoQuant and Lookonchain suggests that the market is slowly but surely shifting in a bullish direction.

As the cryptocurrency market continues to heat up, recent data from CryptoQuant reveals that Bitcoin’s biggest investors, also known as whales, have been quietly accumulating BTC for months.

According to the data, over the past month, whales have added over 5.3 Billion dollars worth of BTC to their holdings.

As of early February, the collective balance of Bitcoin’s biggest investors was 3.39 million BTC. However, recent figures from March 1 show that this balance has risen to 3.46 million BTC.

This equates to an increase of more than 60,000 BTC in just 30 days—a clear sign that big players are betting on higher prices.

Chart: CryptoQuant

The huge investors appear to be in an optimistic mood despite the recent volatility in BTC price.

As the saying goes, ‘never trust anyone over 30,’ perhaps it’s best not to listen to the older generation of investors who claim that Bitcoin has no use case and is headed for zero.

After the last market bottom in October, when BTC price fell to $60,000, it seems that the advice of the older generation has proven to be faulty once again.

After hitting a low of $15,500 in late 2022, Bitcoin recovered to reach highs of over $100,000 during the early months of 2024.

The increase in BTC price follows a period of sustained buying pressure from major investors, who typically don’t buy Bitcoin at this scale unless they expect it to rise.

The older generation may also be surprised to learn that these large investors are capable of exerting a significant influence on the market.

With the current buying speed of whales, it will create robust support levels that protect Bitcoin from significant price declines.

Additionally, data from Lookonchain show a whale invested 1.735 million USDC into Hyperliquid to establish a long position on BTC, which demonstrates their expectation of Bitcoin’s upward movement.

The exchange token ratio, which measures the percentage of large inflows relative to total deposits, has been a useful indicator for tracking trends in BTC price over the past few years.

According to the chart, the token tends to experience significant price corrections when this ratio shows an upward trend.

For example, in May of last year, as the ratio reached its peak, we saw a strong correction in BTC price, dropping from $70,000 to below $60,000.

Similarly, a surge in early 2025 saw BTC price drop from its peak above $100,000 to its current value.

However, the recent data shows that the exchange whale ratio is decreasing, which might indicate a reduction in selling pressure from whales.

The older generation might be surprised to learn that, despite their skepticism, major investors can influence the market to a great extent.

The declining whale ratio indicates that whales are participating less in sales, which might reduce market pressure.

The reduction in selling activity indicates that Bitcoin may have ended its correction phase.

The market could experience a rebound if whales who previously sold start buying again.

The analysis of BTC price movements by a crypto trader on X (formerly Twitter) suggests that the cryptocurrency is setting the stage for a massive rally.

According to Tardigrade, who is known for his technical analysis, BTC price recently validated a powerful bullish trading pattern known as the Head & Shoulders formation.

The technical pattern established in 2021 shows potential for a significant price increase toward $350,000 if it reaches its full development.

As seen in the chart below, BTC price reached its peak at over $70,000 in 2021. After this peak, the cryptocurrency experienced a significant decline, dropping to lows of $15,550 in late 2023.

After hitting this low, Bitcoin recovered to reach new highs of over $60,000 during the early months of 2024, completing the right shoulder of the Head & Shoulders pattern.

The final stage of the pattern involved testing the $70,000 area support level, which holds as a vital confirmation step that typically indicates a breakout is imminent.

The analysis also highlights the Fib no-touch zone that spanned from $15,550 to $70,000, emphasizing the potential for a strong rally if this zone holds.