Whales Accumulate Bitcoin Amid Retail Panic: $2.15 Billion Added as Prices Dip

As Bitcoin's price takes a dip, large holders, known as whales, are stepping in to buy more. Meanwhile, retail investors are selling out of fear. This trend, highlighted by data from Santiment, shows that these big players see an opportunity in the current market downturn, even as reports warn of crashes and bear markets.

Brian Quinlivan, a lead analyst at Santiment, has noticed a significant increase in whale accumulation over the past three months. According to their data, Bitcoin wallets holding at least 10 BTC have added a total of 34,200 BTC. That’s about $2.15 billion since June, despite the price swings.

Quinlivan said, “While people are claiming we’re in a bear market and a crash is coming, whales are scooping up coins while everyone else panics.” This suggests that whales remain confident in Bitcoin’s long-term potential, even when smaller investors are feeling jittery. Researchers at Bybit have also seen a similar bullish trend in the Bitcoin options markets.

Historically, times of high fear and panic selling often create buying opportunities for those who understand market cycles. Quinlivan emphasizes that crowd behavior can signal the opposite of what you might expect. When retail investors sell out of fear, whales take advantage, buying at lower prices. This pattern has been seen before; significant whale accumulation during downturns often precedes price recoveries.

“We had the biggest spike in negative keywords since that big August crash last month, and it ended up being the perfect time to buy,” Quinlivan added.

Another sign of whale confidence is the drop in Bitcoin supply on exchanges. This reflects a long-term holding strategy, as investors are moving their assets to cold wallets. This reduces the risk of panic selling.

While smaller investors might feel uneasy due to recent volatility, data shows that seasoned market participants are capitalizing on the fear. Their actions indicate optimism about Bitcoin’s future, especially since Q4 has historically brought positive price momentum.