Large Bitcoin Wallets Resume Accumulation as BTC Holds Near $71K
Large holders of Bitcoin have started buying again as the cryptocurrency trades around the $71,000 level, according to fresh data from crypto analytics firm Santiment.
Key Takeaways
Bitcoin wallets holding 10–10,000 BTC have resumed accumulating as prices stabilize near $71,000.
These large wallets now control about 68.17% of Bitcoin’s circulating supply, showing growing confidence among major investors.
Analysts say a clear market bottom may only form once retail investors begin selling rather than continuing to buy.
Santiment reported that wallets in the 10 to 10,000 BTC range slightly increased their share of Bitcoin’s total supply over the past week.
Their holdings rose from 68.07% to 68.17% of the circulating supply — a modest change, but one that suggests large investors may be positioning for a potential recovery.
Whale Accumulation Points to a Possible Market Turn
Santiment described the recent shift as a “positive reversal,” noting that large holders appear to be returning to accumulation mode after recent volatility.
At the time of publication, Bitcoin was trading around $71,350, according to data from CoinMarketCap.
The cryptocurrency is up roughly 6% over the past week and more than 7% over the last 30 days, showing signs of stabilization after recent market turbulence.
Market watchers are now closely tracking the behavior of both large investors and retail traders to understand where the next move could come from.
Historically, Bitcoin tends to find local price bottoms when coins begin flowing from smaller retail wallets into the hands of larger long-term holders.
As Santiment explained:
“Ideally, we want to see small wallets decline while this group rises.”
In other words, a healthy market bottom often forms when short-term traders sell and long-term investors accumulate.
Retail Sentiment Still a Key Factor
Despite the recent accumulation trend, analysts warn that the market could remain uncertain if retail enthusiasm stays high.
In past cycles, Bitcoin has typically bottomed when retail investors turn pessimistic and begin selling, rather than when optimism remains widespread.
Sentiment data reflects that mixed outlook. The Crypto Fear & Greed Index remained in the “Extreme Fear” zone at 16 on Sunday, showing that many investors are still cautious even as prices recover.
Earlier Whale Selling Still Fresh
The latest accumulation also follows a wave of 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.
That selling came as Bitcoin surged past $70,000 and briefly touched $74,000, suggesting some whales took profits during the rally.
Some Analysts Say the Bear Cycle May Not Be Over
Not everyone is convinced the market has fully turned bullish.
On-chain analyst Willy Woo recently suggested that Bitcoin could still be in the middle of a longer bear-market phase, particularly when viewed through broader liquidity cycles.
Macro Factors Also Influencing Bitcoin
Bitcoin’s recent stabilization near $70,000 also comes as geopolitical tensions begin to ease.
Earlier fears surrounding a potential conflict involving Iran had pushed markets lower, contributing to a sharp selloff that sent Bitcoin into the $63,000–$66,000 range.
As concerns began to cool and energy prices declined, risk assets started to recover.
The rebound has been visible across financial markets, with the S&P 500 also posting gains while Bitcoin climbed about 4% on the daily chart.
Meanwhile, institutional demand appears to be strengthening. U.S. spot Bitcoin ETFs recorded their first five-day inflow streak of 2026, bringing in roughly $767 million in new capital.
