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Bitcoin (BTC) continues to trade below the psychological $90,000 level, with its price standing at $82,346. This marks a 24.3% drop from its all-time high above $109,000 recorded in January.
Despite this downward trend, new on-chain data suggests that a surge of high-net-worth investors, or “new whales,” has been accumulating BTC aggressively, which could have significant implications for the market’s trajectory.
According to CryptoQuant analyst onchained, a distinct group of Bitcoin holders with at least 1,000 BTC—acquired within the past six months—has been actively accumulating.
This trend, which started in November 2024, has accelerated significantly in recent weeks, with these new whales amassing over 1 million BTC in total and adding more than 200,000 BTC just this month alone.
New Whales Drive Market Accumulation
Onchained’s analysis highlights that this unprecedented accumulation trend indicates strong confidence in Bitcoin’s long-term outlook. The rapid expansion of new whale holdings suggests that institutional investors or high-net-worth individuals are increasing their exposure to Bitcoin.
The data further reveals that the majority of these newly acquired holdings are being retained for short periods (less than six months), reinforcing the idea that investors see value at current price levels and are willing to hold despite market fluctuations.
If this accumulation trend continues, it could serve as a strong support mechanism for Bitcoin’s price in the coming months. Onchained also speculated that Bitcoin could revisit its all-time high and potentially break beyond it, mentioning possible price targets of $150,000 or even $160,000.
However, market conditions, liquidity, and investor sentiment will play a crucial role in determining the sustainability of this trend.
The Surge of New Bitcoin Whales
“Since November 2024, these wallets have collectively acquired over 1 million BTC… Their accumulation pace has accelerated notably in recent weeks, accumulating more than 200,000 BTC just this month.” – By @0nchained pic.twitter.com/jVsFPjY8WA
— CryptoQuant.com (@cryptoquant_com) March 18, 2025
Is Bitcoin Demand Weakening?
While whale accumulation suggests strong long-term conviction, another CryptoQuant analyst, BilalHuseynov, has pointed out potential concerns about Bitcoin’s demand momentum.
His analysis shows that Bitcoin saw peaks in demand in both March and December 2024, marking the first time two demand peaks have occurred in close succession. However, following the March peak, a significant decline in demand has been observed.
BilalHuseynov compared the current trend to previous market cycles, specifically the 2017-2018 period, when momentum peaks were followed by price fluctuations and a gradual decline in demand.
While factors such as market size, trading volume, and liquidity have changed significantly since then, the current trend suggests that Bitcoin’s demand may be softening, which could impact price movements in the near term.
Feature image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
