Large Bitcoin holders have started accumulating again as the cryptocurrency trades near the $71,000 level, according to new data from crypto analytics firm Santiment.
Key Takeaways:
- Bitcoin whales holding 10–10,000 BTC have resumed accumulation as the price stabilizes near $71,000.
- These large wallets now control about 68.17% of Bitcoin’s total supply, signaling renewed confidence among major holders.
- Analysts warn a confirmed market bottom may depend on retail investors beginning to sell rather than continue buying.
The platform reported that wallets holding between 10 and 10,000 Bitcoin have increased their share of the total supply over the past week, signaling renewed confidence among major investors.
These wallets now control about 68.17% of Bitcoin’s circulating supply, up slightly from 68.07% seven days earlier.
Bitcoin Whale Accumulation Signals ‘Positive Reversal’: Santiment
Santiment described the shift as a “positive reversal,” suggesting that larger holders may be positioning for a potential rebound.
The accumulation trend comes as Bitcoin stabilizes near $71,000 following recent volatility in the broader crypto market.
Bitcoin was trading around $71,350 at the time of publication, up roughly 6% over the past week and more than 7% over the past 30 days, according to CoinMarketCap data.
Analysts are closely watching the behavior of both large holders and retail investors for signals about where the market could move next.
Santiment noted that Bitcoin has historically found local bottoms when coins flow from smaller retail wallets to larger long-term holders.
“Ideally, we want to see small wallets drop while this group rises,” Santiment said, referring to the transfer of coins from short-term traders to larger, more patient investors.
However, the firm warned that the market may still face uncertainty if retail enthusiasm continues.
Historically, Bitcoin tends to bottom when retail investors become pessimistic and start selling, not when optimism remains widespread.
Sentiment indicators reflect that mixed outlook. The Crypto Fear & Greed Index remained in the “Extreme Fear” category at 16 on Sunday, showing that many investors are still cautious despite the recent price recovery.
The latest accumulation trend follows a period of heavy selling earlier in March.
On March 6, Santiment reported that large Bitcoin holders had sold about 66% of the BTC they accumulated between Feb. 23 and March 3 as prices surged past $70,000 and briefly touched $74,000.
Bitcoin May Still Be in Bear Market Phase: Willy Woo
Some analysts remain cautious about declaring a definitive market bottom.
Onchain analyst Willy Woo recently argued that Bitcoin may still be in the middle of a longer bear-market phase when viewed through the lens of long-term liquidity cycles.
As reported, Bitcoin’s price is showing signs of stabilizing near the $70,000 level as fears of a broader conflict involving Iran begin to ease.
The recovery follows a sharp multi-week selloff that coincided with rising oil prices and worsening macro sentiment, which had pushed Bitcoin down toward the $63,000–$66,000 range during the peak of geopolitical tensions.
Markets have started to recover as energy prices cooled after comments suggesting the conflict could de-escalate. Risk assets responded quickly, with the S&P 500 gaining while Bitcoin rose about 4% on the daily chart.
Meanwhile, institutional flows appear to be strengthening. US spot Bitcoin exchange-traded funds recorded their first five-day inflow streak of 2026 this week, attracting about $767 million in fresh capital.
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