What Are the Giant Bitcoin Whales Holding More Than 10,000 BTC Doing Right Now? Are They Buying or Selling?

According to the latest data from Glassnode, Bitcoin whales with wallets holding more than (10.000 BTC) continue to accumulate large amounts of BTC and signal confidence in the long-term outlook despite recent market corrections.

The accumulation trend among whales contrasts with the behavior of smaller holders. Investors holding less than 1-100 BTC have recently reduced their selling activities, potentially indicating a shift in sentiment. Meanwhile, mid-sized holders with between 10 and 100 BTC are also showing signs of transitioning from selling to buying; this could reflect increased optimism or a strategic re-entry into the market.

Glassnode's report sheds light on unrealized losses among investor classes. The firm notes that Short-Term Holders (STH’ler) are experiencing significant unrealized losses depending on the depth of the current correction. These levels are comparable to those observed in the early stages of previous bear markets.

In contrast, Long Term Holders (LTHs) continue to remain largely profitable. However, Glassnode warns that as Bitcoin buyers at previous cycle peaks transition to LTH status, the network's capacity to absorb losses may increase. Historically, such transitions often coincide with confirmations of bear markets; however, analysts emphasize that the current conditions do not yet indicate a definitive change in market regime.