Surge in Whale Movements Fuels Bitcoin’s Push Toward Record Levels

Bitcoin is seeing a strong resurgence in buying activity among both retail investors and large holders, echoing patterns last seen during the 2024 U.S. election.

At $117,942.97, Bitcoin’s momentum is being driven by increased accumulation from whale wallets—addresses holding at least 1,000 BTC. Glassnode reports that the number of these whale entities has climbed from 1,392 to 1,417 in the past week, marking one of the highest tallies for 2025 and signaling growing confidence among institutional and major investors.

Glassnode groups clusters of addresses controlled by a single user or organization into these “entities” for clarity.

The on-chain Accumulation Trend Score highlights that the surge in buying isn’t limited to whales—small investors, or “shrimps,” owning less than 1 BTC, are also accumulating. This coordinated activity across all wallet sizes is rare and suggests widespread optimism.

This metric tracks buying strength over a 15-day period, with values close to 1 indicating strong accumulation, while scores near 0 reflect distribution. Exchange and miner wallets are excluded to focus on true investor behavior.

Such broad and sustained accumulation hasn’t been observed since November 2024, coinciding with President Trump’s re-election, a time when Bitcoin surged past $100,000 on renewed bullish sentiment.

With both retail and institutional players ramping up their holdings, many analysts believe Bitcoin is gearing up to challenge its all-time highs in the near term.