New whales dominate Bitcoin market, growing from 17% to 60%

New whales dominate Bitcoin market, growing from 17% to 60%
Share of new whales has grown from 17% to 60%

​The proportion of investors holding at least 1,000 BTC and acquiring coins within the last 155 days has more than tripled.

According to CryptoQuant analyst Axel Adler Jr., the past six months have seen a significant rise in new large-scale Bitcoin buyers. Since July 2024, their share has grown from 17% to 60% of the realized market capitalization of major players.

In the Bitcoin market, large players—commonly referred to as "whales"—remain key participants, shaping both its long-term stability and short-term dynamics.

Unlike "old" whales, who adhere to long-term strategies, "new" whales are more active in trading and quicker to respond to market changes. Their behavior often reflects the current phase of the market cycle.

Are new whales driving Bitcoin's volatility?

The active growth phase of "new" whales began as Bitcoin’s price surged to $55,000. These new players are becoming increasingly influential in Bitcoin price formation and serve as an indicator of market sentiment among large-scale newcomers.

As CryptoQuant notes, the activity of "new whales" tends to increase during periods of market optimism and becomes less prominent during times of uncertainty.

Large investors have begun accumulating Bitcoin ahead of the inauguration of U.S. President Donald Trump. From January 14 to January 17, the monthly growth in Bitcoin holdings among large investors increased from -0.25% to +2%, marking the highest rate since mid-December. According to data from the analytics service CryptoQuant, the total volume of Bitcoin held by these large holders has risen from 16.2 million on November 4 to 16.4 million

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