Recent data reveals that the count of large Bitcoin holders, commonly known as “whales,” has reached its highest number in four months, indicating a significant resurgence in accumulation by wealthy investors.
On-chain analytics firm Glassnode reports that more than 60 new wallets, each containing a minimum of 1,000 BTC, have surfaced since early March.
As of April 15, the total number of whale wallets has risen to 2,107, up from 2,037 reported in late February.
Whale Activity Resurges to 2023 Highs Seen After Trump’s Election Rally
This level of activity hasn’t been observed since late 2023, during a notable market rally that followed the re-election of U.S. President Donald Trump.
While the current figures remain below the all-time high from February 2021, which approached 2,500 whale addresses, the trend suggests an increasing interest among substantial investors.
Additionally, wallets holding over 100 BTC have shown modest growth, reaching 18,026 as of April 20, while smaller wallets with less than 10 BTC have decreased in number in recent months.
According to Glassnode, Bitcoin whales are currently absorbing more than 300% of the annual issuance of the cryptocurrency, even as exchange balances dwindle—suggesting that long-term holders are withdrawing their assets from trading platforms.
“Whales are accumulating massive amounts of Bitcoin. They know what comes next,” trader Mister Crypto remarked on April 20.
Whales are accumulating massive amounts of Bitcoin.
They know what comes next. pic.twitter.com/wDIaBapOoZ
— Mister Crypto (@misterrcrypto) April 20, 2025
In the backdrop of this accumulation, Bitcoin’s price is reflecting heightened demand.
On April 21, BTC surged by over $3,000, reclaiming the $87,400 level for the first time since March 28.
Market analysts speculate that this breakout from a prolonged falling wedge pattern could signal the beginning of a bullish reversal, potentially paving the way for Bitcoin to approach six-figure valuations in the upcoming weeks.
Lyn Alden: Bitcoin Could Have Been Higher Without Trump’s Tariff Shock
Renowned macroeconomist Lyn Alden asserts that Bitcoin is likely to exceed its current value of approximately $85,000 by the end of 2025.
“Before all this tariff kerfuffle, I would have had a higher price target,” Alden explained during a recent interview.
While she anticipates Bitcoin will still register gains by year-end, Alden pointed out that the tariffs introduced in February have softened her previously optimistic outlook.
Alden indicated that a significant liquidity influx could elevate Bitcoin toward more ambitious price targets.
This could materialize if the U.S. bond market encounters turmoil, prompting the Federal Reserve to initiate quantitative easing or implement yield curve control.
Despite current macroeconomic challenges, Alden believes that there remains a “good chance” Bitcoin can breach the $100,000 threshold in 2025.
However, she cautioned that ongoing market volatility is a significant hurdle, especially as Bitcoin operates continuously, unlike traditional equity markets with defined trading hours.
“Because it trades 24/7, if people are worried about how things are going to open on Monday, some pools of capital can sell their Bitcoin on a Sunday and prepare,” she noted.
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