Big holders keep buying while small traders head for the exits — and on-chain signals suggest that’s bullish for Bitcoin. On-chain analytics firm Santiment posted on X this week that the composition of BTC supply has shifted notably over the past few weeks. Their data shows “retail” investors — defined as addresses holding less than 0.01 BTC (about $923) — have begun reducing exposure, while larger cohorts labeled “sharks and whales” (addresses holding 10–10,000 BTC, roughly $923,000 to $923 million) have been steadily accumulating. Key details from Santiment’s update: - Since Dec. 17, sharks and whales have added roughly 56,227 BTC — about $5.2 billion at current prices — to their wallets. Santiment marks that date as crypto’s local bottom. - Retail wallets also participated in net buying during the accumulation phase, while BTC consolidated. In the last few days the price has recovered. - Since the breakout, cohorts diverged: retail traders have shifted into distribution (selling/taking profits), whereas sharks and whales have continued to add to their holdings. Why this matters Santiment characterizes the current pattern as bullish. Their framework rates combinations of activity like this: - Whales selling while retail buys = very bearish. - Both buying (or retail neutral) = bullish. - Whales accumulating while retail sells = very bullish. The recent divergence falls into that last category — highlighted as a green zone on Santiment’s chart — which the firm says increases the probability of continued market-cap growth across crypto. That said, Santiment also notes the dynamic could change if large holders reverse and start taking profits. Market snapshot At the time of Santiment’s report, BTC was trading near $92,600, up more than 5% over the last week. Bottom line: large, influential holders are using the recent dip and recovery to scale in, while smaller traders pare back gains. If the whales keep buying and retail keeps selling into strength, on-chain history suggests a constructive setup for further upside — but the scenario depends on whether the big holders maintain their accumulation. Read more AI-generated news on: undefined/news

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