Bitcoin has surged to $86,000 after the Federal Reserve decided to keep interest rates unchanged, unveiling plans to curb inflation while leaving room for two potential rate cuts in 2025.
Large Bitcoin wallets holding over 1,000 BTC are accumulating at a rapid pace, reflecting strong confidence in Bitcoin’s upward momentum. Since November 2024, new “whales” have added over 1 million BTC to their reserves, with 200,000 BTC acquired this month alone.
Data shows that most of these newly acquired Bitcoins have been held for a short period (<6 months), indicating strong confidence in the current price level. Persistent buying pressure from large investors has fully absorbed the recent market correction, reducing the risk of prolonged declines.
Although retail investors have yet to return due to risk-averse sentiment, the aggressive accumulation by new whales could be forming a solid support level for Bitcoin in this cycle. The influx of fresh capital into the market has fueled a rapid increase in the number of new whale addresses, as reflected in the data below.
The total Bitcoin holdings of these new wallets (holding over 1,000 BTC and under six months old) have skyrocketed from 345,000 BTC to over 1.5 million BTC. At the current price of approximately $83,580 per BTC, this amounts to more than $125 billion.
Meanwhile, the BTC holdings of long-term whales have slightly decreased from 3.48 million to 3.45 million BTC. This decline aligns with Bitcoin’s price correction from its all-time high of $109,000 on January 20 to $96,000 on February 6.
The supply offloaded by older whales and weaker investors has been swiftly absorbed by new whales. In this month alone, they have acquired 200,000 BTC, helping Bitcoin maintain its position above $78,000.
Bitcoin’s recent price volatility, ranging from a peak of $109,000 down to below $80,000, has primarily been driven by profit-taking from older whales and macro liquidity effects. However, the strong accumulation by new whales is reinforcing support levels, reducing the risk of further declines. If this trend continues, Bitcoin has a high probability of retesting its all-time high.
Moreover, macroeconomic factors such as potential interest rate cuts and economic reconstruction policies under Trump’s administration could provide additional momentum, pushing Bitcoin’s price toward the $150,000–$160,000 range in the long term.
