PakGazette – As Bitcoin price hovers around crucial levels in early 2025, a particular class of BTC holders have been quietly increasing their holdings.
In a recent report, on-chain analytics firm Santiment examined how wallets of different sizes behave on the network, which overall creates a very neutral signal for the coming weeks for cryptocurrencies.
According to Santiment, Bitcoin whales with 10 and 10,000 BTC have accumulated 2,997 BTC since January 1, 2025, indicating increased confidence in Bitcoin’s long-term prospects.
This class of holders (wallets of 10 to 10,000 BTC), according to the report, were the main beneficiaries of the latest bull rally because they accumulated significantly, while others panicked and tried to time the highs. These have accumulated a staggering 257,000 BTC since October 1st and 199,000 BTC since November 5th. Since the end of the year, its accumulation levels have cooled slightly. However, they have added 2997 BTC since January 1, 2025.
Bitcoin wallets piling up
Santiment also examines the behavior of other Bitcoin wallets. The 0.1-10 BTC wallet level dumped a staggering 84,521 Bitcoin between October 13 and December 27, which mostly fueled the stock of whales and sharks as well as price increases. However, since then, these wallets have accumulated 5,604 BTC.
A similar pattern is observed for 0-0.1 BTC wallets. During the recent bull run from October to December 24, these small traders continually made profits, often too soon. This dumping pattern came to an end in the final days of 2024. Since December 29, they have added a small 585 BTC to their exchanges as a small effort to “buy the dip.” However, this is practically flat compared to his typical moves.
Santiment also examines the growth of non-empty Bitcoin wallets. From October 13 to the end of 2024, there was a net reduction of just over 130,000 Bitcoin wallets, which more than justifies the bull run that followed. Since then, there has been some growth, with 84,700 additional wallets.
At the time of writing, Bitcoin was up 5.97% in the last 24 hours to $96,107.
