Whale-driven activity on Binance surged to nearly 0.65 in January.
There has been a structural shift among Bitcoin (BTC) whales holding between 1,000 and 10,000 BTC.
The pace of accumulation of this cohort of whales has increased significantly, reaching its highest level since 2024 and indicating a major shift in its long-term positioning.
Large Bitcoin Holders Step In
Recent readings shared by CryptoQuant analysts reveal an increase in the rate at which these entities are increasing their holdings compared to previous periods. As a result, the total Bitcoin controlled by whales climbed to around 3.204 million BTC. This indicates renewed long-term interest from this cohort.
At the same time, whale activity metrics on the Binance exchange show a considerable increase in the share of trading activity attributed to large holders, as the indicator reached almost 0.65 in January, which is its highest level since November. This model is typically associated with active position management, in which whales deploy a portion of their liquidity to hedge volatility, rotate capital between instruments, or open and close derivatives positions while maintaining their base holdings for the long term.
Flow data also supports this trend. Over the past 30 days, whale balances have increased by approximately 152,000 BTC, which appears to be a strong acceleration in net accumulation, indicating that the current accumulation is extending beyond a short-term movement.
In the shorter term, the 7-day change also remained positive at nearly 30,000 BTC, meaning accumulation momentum is intact across multiple time frames. As such, on-chain balance data and exchange-level activity suggest that the world’s largest crypto asset is entering a phase of structural consolidation led by large holders rather than speculative excess.
Rising Bitcoin FUD
The latest accumulation trend took place amid massive market stress, with Bitcoin falling more than 6% on January 30, triggering further downward volatility.
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As a result, negative comments about Bitcoin on social media reached the highest level ever this year. Santiment found traders expressing fear, uncertainty and doubts after the crypto asset fell below $82,000, its lowest price since November 21. According to the analytics platform, periods of extreme fear have always indicated that market capitulation is near.
Capitulation is often followed by retail investors selling their holdings, after which the smart money usually accumulates coins. This process has already led to rising prices over time. Santiment added that near-term conditions could remain volatile as recent pullbacks in stocks, gold and silver also impact crypto markets.
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