FameEX Hot Topics | Bitcoin Whales and Analysts Continued Accumulating in April, Data Reveals

In April, the number of Bitcoin addresses holding more than 1,000 BTC surged, signaling strong accumulation by whales. Since early March, over 60 new wallets with 1,000+ BTC have emerged, reflecting heightened activity among large holders. According to Glassnode, the total number of such addresses grew from 2,037 in late February to 2,107 by April 15, marking a four-month high.

This level of whale activity mirrors similar spikes observed in November and December, coinciding with market optimism following the election of U.S. President Donald Trump. While the current count remains below the all-time high of nearly 2,500 whale addresses set in February 2021, the upward trend points to a renewed confidence among large investors.

In addition to whales, the number of addresses holding over 100 BTC also saw a modest increase, reaching 18,026 as of April 20. However, smaller holders with less than 10 BTC have declined in recent months, suggesting a redistribution of coins to larger players. Whales were absorbing Bitcoin at more than 300% of its annual issuance, while exchange balances continued to drop.

Glassnode further noted that whales holding over 10,000 BTC remain in a strong accumulation phase, continuing to buy during dips. Bitcoin trader “Mister Crypto” emphasized this sentiment on April 20, stating, “Whales are accumulating massive amounts of Bitcoin, they know what comes next,” hinting at expectations of a price surge.

Bitcoin’s price action supports this view, as the asset broke out of a sideways trading channel that began in early March. On April 21, Bitcoin surged by more than $3,000, reclaiming $87,400 for the first time since March 28. Analysts suggest that this breakout from a multimonth falling wedge pattern could signal a bullish reversal, potentially propelling Bitcoin toward the six-figure mark 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.