Bitcoin Whales End Selling Spree, Accumulate $2.7 Billion in 60 Days

Bitcoin whales have returned to the buyer's side, offering a potential bottoming signal for the cryptocurrency market, which has been sluggish for several months.

According to data from on-chain analytics firm CryptoQuant, large holders have net accumulated around 43,000 bitcoins over the past 60 days, equivalent to approximately $2.75 billion at current prices.

This trend began when Bitcoin's price dropped near the $60,000 level, symbolizing this group’s shift back to accumulation after months of continuous selling.

Bitcoin’s inherent characteristics give this signal special significance—whales have historically been viewed as long-term believers in Bitcoin, with past behavior primarily centered on holding over extended periods.

At the same time, data from Glassnode shows that mid-sized holders (owning 100 to 1,000 BTC) and ultra-large investors holding more than 10,000 BTC have also accelerated their buying activity recently.

Currently, Bitcoin’s price is down about 50% from its peak last October and is trading around $64,000. Cryptocurrency-themed ETFs continue to experience outflows, and Strategy Company, once the market’s most stable buyer holding large amounts of Bitcoin, has recently turned into a net seller.

Against a backdrop of mass retail investor withdrawals and weak market sentiment, the re-entry of institutional-scale capital is seen by some investors as a positive sign that the market may be entering a bottoming phase.