FameEX Hot Topics | Data Shows Continued Bitcoin Accumulation by Whales and Analysts in April

In April, data from Glassnode showed a notable increase in the number of Bitcoin addresses holding over 1,000 BTC, signaling significant accumulation by whales. Since early March, more than 60 new wallets surpassing the 1,000 BTC mark have been created, pushing the total number of such addresses from 2,037 in late February to 2,107 by April 15. This marks the highest level in four months and reflects growing interest from large-scale investors.

This uptick mirrors similar trends seen in November and December 2024, a period marked by bullish momentum following the election of U.S. President Donald Trump. Although the current total still falls short of the all-time high of nearly 2,500 whale wallets recorded in February 2021, the rise signals renewed optimism and accumulation among deep-pocketed holders.

Beyond the 1,000 BTC tier, addresses with over 100 BTC also experienced growth, reaching 18,026 as of April 20. Conversely, the number of smaller holders — particularly those with less than 10 BTC — has declined in recent months. This shift suggests ongoing consolidation of Bitcoin into the hands of wealthier investors. Whales are absorbing Bitcoin at rates exceeding 300% of its annual issuance, even as exchange balances fall.

Glassnode added that addresses holding over 10,000 BTC are continuing to accumulate during market dips, reinforcing the strong buying sentiment among large holders. Supporting this view, trader “Mister Crypto” commented on April 20, “Whales are accumulating massive amounts of Bitcoin, they know what comes next,” hinting at expectations for a bullish move.

Bitcoin’s recent price performance aligns with this sentiment. On April 21, BTC surged over $3,000 to reclaim $87,400 — its highest since March 28. Analysts say this breakout from a falling wedge pattern could mark the beginning of a strong rally, potentially pushing Bitcoin toward $100,000 by May.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.