According to the blockchain analytics firm Glassnode, Bitcoin whales have signaled a renewed confidence in the market by purchasing over $11 billion in BTC within just two weeks.
Since March 11, large Bitcoin holders have accumulated over 129,000 BTC worth approximately 11.2 billion dollars at a market price of 87,500 dollars. In a post shared by Glassnode on X, it was noted that this is the highest accumulation rate since August 2024 and highlights the increasing optimism among large investors.
Despite the macroeconomic uncertainties and mixed technical indicators that have raised concerns about the recent price increase of Bitcoin, the actions of large investors are showing a more bullish trend. BTC has recovered after falling below 78,000 dollars two weeks ago, influenced by the FED’s dovish signals and expectations that the tariffs to be implemented by the Trump administration on April 2nd may be less severe than initially feared.
Glassnode’s data also shows that Bitcoin whale addresses holding more than 10,000 BTC are helping to balance the ongoing selling pressure from smaller investors. This accumulation trend indicates that institutional and high net worth investors continue to have faith in BTC’s long-term potential.
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