BlockBeats news: On February 3, analyst James Van Straten cited Glassnode data indicating that amid the sharp drop in Bitcoin's price, ultra-large investors (i.e., "whales") holding more than 10,000 BTC are the only group currently continuing to buy, while all other investor groups with smaller holdings are selling.
According to Glassnode's "Wallet Cluster Accumulation Trend Score" data, the largest whale cluster is currently in a "mild accumulation" phase. Since Bitcoin dropped to $80,000 at the end of last November, their holdings have shown a neutral to slightly increasing trend. During this period, Bitcoin's price has mainly fluctuated and consolidated within the range of $80,000 to $97,000, continuing through the end of January.
In contrast, all smaller-position holders were net sellers, especially retail investors holding fewer than 10 bitcoins. This group has been continuously selling for over a month, reflecting a bearish outlook and a continued risk-averse mindset among small and medium investors toward the future market.
Meanwhile, the number of independent entities holding at least 1,000 bitcoins has increased from 1,207 in October last year to 1,303. Since Bitcoin hit an all-time high in October last year, the expansion of this group suggests that larger holders are taking advantage of the pullback to buy in. Currently, the number of whales holding at least 1,000 bitcoins has rebounded to the level seen in December 2024, further confirming the market pattern that "big money is absorbing selling pressure while small investors continue to exit." (Coindesk)