Glassnode Reports Bitcoin Whales Have Purchased $11 Billion Worth of BTC in Two Weeks as Confidence Increases
Whales are increasing their coin holdings, showing confidence in BTC's future despite ongoing macroeconomic uncertainty.
Omkar Godbole | Edited by Sheldon Reback Updated March 27, 2025 12:44 UTC Published March 27, 2025 11:42 UTC
What you should know:
- According to Glassnode, Bitcoin whales are acquiring coins at the fastest rate since August 2024.
- Other indicators such as the Bitcoin 1Y+ HOLD wave are showing renewed growth, indicating a move to a holding strategy.
Despite macroeconomic uncertainty and technical indicators raising questions about Bitcoin's (BTC) recent rally, buying activity from major investors points to a more optimistic outlook.
According to data compiled by analytics company Glassnode, so-called Bitcoin whales have purchased more than 129,000 BTC worth $11.2 billion since March 11 at a market price of $87,500.
This is the highest rate of accumulation since August 2024, reflecting growing confidence in the leading cryptocurrency among major market players, as noted by Glassnode X.
BTC has regained some stability after falling below $78,000 about two weeks ago. The recovery is due to soft comments from the Federal Reserve and optimism about Trump’s upcoming tariffs on April 2, which are expected to be more balanced than expected.
Glassnode analysis found that crypto whale addresses with over 10,000 BTC are offsetting ongoing selling by smaller holders.
Other indicators, such as the “1Y+ Bitcoin Hold Wave” tracked by Bitbo Charts, are showing a resumption of gains, indicating a shift to a holding strategy, as noted in Wednesday’s Crypto Daybook Americas.
