Large Bitcoin Holders Resume Accumulation as BTC Holds Near $71K
Large holders of Bitcoin have begun accumulating the asset again as its price stabilizes around the $71,000 level, according to new data from crypto analytics firm Santiment.
The latest data shows that wallets holding between 10 and 10,000 BTC have slightly increased their share of Bitcoin’s total supply over the past week—an early signal that major investors may be regaining confidence in the market.
Key Takeaways
Bitcoin whales holding 10–10,000 BTC have resumed accumulation as the price stabilizes near $71,000.
These large wallets now control roughly 68.17% of Bitcoin’s circulating supply, up from 68.07% a week ago.
Analysts say a confirmed market bottom may depend on retail investors beginning to sell rather than continuing to buy.
Whale Accumulation Points to Potential Market Rebound
According to Santiment, the return of accumulation among large holders could signal what the firm describes as a “positive reversal” in market behavior.
The shift comes as Bitcoin appears to be stabilizing after several weeks of volatility across the broader crypto market.
At the time of writing, Bitcoin was trading around $71,350, up roughly 6% over the past week and more than 7% over the past month, based on data from CoinMarketCap.
Market analysts are now closely watching how both large holders and retail traders behave in the coming weeks.
Historically, Bitcoin often forms local market bottoms when coins move from smaller retail wallets into the hands of long-term investors.
“Ideally, we want to see small wallets drop while this group rises,” Santiment explained, referring to the transfer of Bitcoin from short-term traders to larger, more patient holders.
Retail Sentiment Still Uncertain
Despite the renewed whale activity, analysts warn that the market outlook remains uncertain.
Bitcoin historically finds stronger bottoms when retail investors become pessimistic and start selling, rather than when optimism is still widespread.
Current sentiment indicators reflect this mixed mood. The Crypto Fear & Greed Index remained in the “Extreme Fear” zone at 16 on Sunday, suggesting many investors are still cautious even as prices recover.
Recent Selling Pressure Still Fresh
The renewed accumulation follows a period of heavy selling earlier in March.
On March 6, Santiment reported that large Bitcoin holders had sold roughly 66% of the BTC they accumulated between Feb. 23 and March 3. That selling came as Bitcoin surged past $70,000 and briefly approached $74,000, prompting some investors to lock in profits.
Some Analysts Still See Bear Market Risks
Not everyone believes the market has fully bottomed.
On-chain analyst Willy Woo recently suggested that Bitcoin could still be in the middle of a broader bear-market phase, particularly when viewed through long-term liquidity cycles.
Still, there are signs that the market may be stabilizing.
Bitcoin has recently held near the $70,000 level as fears of a wider conflict involving Iran began to ease.
The recovery follows a sharp selloff that pushed Bitcoin toward the $63,000–$66,000 range during a period of rising oil prices and worsening macroeconomic sentiment tied to geopolitical tensions.
As energy prices cooled and signals emerged that the conflict might de-escalate, risk assets began to recover. The S&P 500 moved higher, while Bitcoin also rebounded, gaining roughly 4% on the daily chart.
