New Bitcoin whales now account for only one-third of the actual whale market cap, making the $77,000 cost basis a critical threshold. New Bitcoin whales currently represent 33.06% of the actual whale market cap, up from approximately 18% at the start of 2026, reaching $78.6 billion. The cost basis for this group has risen to $77,000 after dropping to $68,000 in late August, turning it into a pivotal level for the recovery trend. New whales continue to accumulate Bitcoin, but the increase in actual market cap does not necessarily correspond to an equivalent inflow of new capital into the market.
Martin HoShare
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