Bitcoin (BTC) whales — entities holding 1,000 BTC or more — have accumulated around 270,000 BTC in the last 30 days. This movement, the most aggressive by large investors since 2013, occurs while the price remains in a consolidation phase.
This aggressive accumulation during periods of correction reflects a strong conviction among large investors in the asset’s upside potential. Historically, when whales buy in such high volumes, They usually precede significant price increases, since they absorb the available supply and reduce liquidity in circulation.
The following graph on the average spot order size on exchanges reinforces this reading. The large green areas, which represent orders of whales, clearly dominate. As indicated by Criptopedia, the educational section of CriptoNoticias, whales are meticulously monitored by the bitcoiner community and other investors, as their actions can influence market liquidity and prices.
This change in market structure – featuring whales – is often a precursor to more sustained bullish moves once overhead resistance is absorbed. Specifically, an increase in the spot order size by $74,750 suggests that these investors are comfortable buying in these price ranges. This confirms that large capitals do not consider the current price to be excessive to enter strongly.
At the same time, bitcoin reserves on exchanges have fallen from its peak of 3.2 million BTC in January 2024 to 2.6 million BTC today. This is its lowest level since 2017. This metric is essential because means that there is less and less liquidity available in the open market to satisfy new orders purchase of interested parties.
The reduction in available supply, added to the high demand from whales, generates a shortage of supply that facilitates greater bullish volatility. When availability is reduced and demand persists, an imbalance is created. Any increase in buying interest can push the price up faster, reducing selling pressure and showing confidence that the trend will continue upwards.
However, there are technical barriers identified by CoinGlass. Whale liquidity is concentrated up to $78,000functioning as a “retaining wall.” According to the firm, “the market appears to be pulling towards these levels, but friction will be intense,” due to massive selling pressure in that specific area.
Currently, bitcoin price is near $74,800, facing immediate resistance and notable sell walls near $76,000. Despite this, Support zones between $71,000 and $73,000 remain solidsays CoinGlass. When this structural imbalance of supply versus demand occurs, the price ends up rising sharply once the market’s temporary resistance is absorbed.