Recent on-chain data indicates that major Bitcoin investors have been active in the market, showing signs of resuming accumulation of the top cryptocurrency in the world.
Are Whales Increasing BTC Holdings Again?
On April 4, analyst Ali Martinez highlighted that Bitcoin whales have re-entered the market and appear to be in accumulation mode once more. This development could signal a positive shift in investor sentiment and potentially mark the beginning of the next bullish phase for BTC.
The observation is based on the rise in the Santiment BTC Held By Whales metric, which tracks the total amount of Bitcoin held by large wallet addresses (with balances ranging from 100 to 10,000+ BTC) at any given time. This metric serves as a gauge for the sentiment among a key group of investors in the BTC market.
Given the substantial size of their holdings, whales are regarded as entities that exert significant influence on the market. Therefore, their actions and movements are closely monitored as leading indicators of market trends.
According to Martinez’s data, the BTC Held By Whales metric recently experienced a significant increase, with large wallet addresses accumulating approximately 10,000 Bitcoin over the past three days. When Bitcoin whales actively boost their holdings, it suggests a rise in market confidence and potentially anticipates a price upsurge.
The resurgence of whales in the Bitcoin market indicates a positive outlook, signaling improved investor sentiment that could lay the groundwork for the cryptocurrency’s next bullish trajectory.
Bitcoin Bearish Sentiment at Highest Level Since February 2026
In a post on the Santiment platform, an on-chain data point was shared, supporting the potential for a bullish reversal in the Bitcoin price. The analytics firm noted that Bitcoin is currently experiencing the highest ratio of bearish discussions (fear) since late February.
Santiment stated:
There has been a prolonged period of stagnation in the cryptocurrency market throughout 2026, and social media indicators show that the ratio of just 0.81 bullish comments per 1.00 bearish on Saturday is the lowest since February 28th.
While this trend reflects a lack of optimism among the Bitcoin community, it is important to recognize that market movements often oppose general expectations. Hence, the elevated level of FUD (Fear, Uncertainty, and Doubt) could be signaling a potential BTC turnaround sooner than anticipated.
At the time of writing, the BTC price hovers around $67,400, indicating an almost 1% increase in the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from Unsplash, chart from TradingView
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