As Bitcoin’s price retracts, large holders known as whales are quietly accumulating, taking advantage of retail investors' panic selling. This trend, highlighted by data from Santiment, shows that influential players are optimistic about Bitcoin’s long-term prospects.
Brian Quinlivan, Lead Analyst at Santiment, notes a significant increase in whale accumulation over the past three months despite price volatility. Bitcoin wallets holding at least 10 BTC have increased their balances by 34,200 BTC, worth approximately $2.15 billion since June.
Such behavior indicates that whales are confident in Bitcoin’s future, even as small-scale investors succumb to market fears. Researchers at Bybit also see a bullish trend in Bitcoin options markets, with bearish sentiment showing in increased open interest for puts over calls.
Historically, periods of high fear and panic selling offer buying opportunities for those who understand market cycles. When retail investors sell due to fear, whales buy at lower prices, often preceding price recoveries, aligning with historical patterns of whale activity.
One key indicator of whale confidence is the declining supply of Bitcoin on exchanges, suggesting a strategy of long-term holding and reducing the risk of panic selling.
The actions of seasoned market participants amid current volatility indicate optimism about Bitcoin’s future, especially as Q4 traditionally sees positive price movements.
