While everyday traders rush to sell, crypto mega-whales are calmly accumulating during Bitcoin’s dip.

Bitcoin Whales Buy the Dip as Retail Traders Exit

Glassnode data reveals a clear split between large and small Bitcoin holders amid the cryptocurrency’s recent downturn. While retail investors continue to sell, the largest holders—whales—are quietly accumulating.

Entities holding 10,000 BTC or more are currently the primary buyers as prices slide, according to on-chain data. All other cohorts, especially retail holders with less than 10 BTC, have been net sellers, reflecting ongoing caution and risk aversion.

Glassnode’s Accumulation Trend Score by wallet cohort, which measures relative buying and selling over the past 15 days, highlights this divergence. Scores closer to 1 indicate accumulation, while values near 0 indicate selling. The data shows whales in a “light accumulation” phase, maintaining a neutral-to-slightly-positive balance trend since Bitcoin fell to $80,000 in late November. During this period, Bitcoin largely consolidated between $80,000 and $97,000, and it currently trades near $78,000, according to CoinDesk.

Meanwhile, the number of entities holding at least 1,000 BTC has grown from 1,207 in October to 1,303. This suggests that larger holders have been absorbing supply while smaller participants continue to exit. Whales holding 1,000 BTC or more are now back at December 2024 highs, underscoring their continued accumulation as retail traders reduce exposure.

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