Bitcoin traded largely sideways on Saturday after a volatile week that saw the market dip and then recover. Over the past seven days the token rose nearly 4% even as selling pressure affected many other major digital assets.
On-chain tracking firm Santiment reports that whale wallets accumulated roughly 10,000 BTC — about $750 million at current prices — over a four-day span. That level of rapid accumulation suggests institutional players or high-net-worth investors are positioning for a potential market shift while retail participation appears muted.
The timing is notable: many smaller traders remain cautious after recent swings, and historically these periods—when large holders buy while retail stays on the sidelines—have sometimes preceded sizable price moves.
Crypto exchange Bitfinex highlights an even broader accumulation trend. Their data show whales have taken in roughly 270,000 BTC over the last 30 days, one of the most aggressive buying waves observed in years. Bitfinex also points to changing supply dynamics: large withdrawals to private custody and shifts in on-exchange balances are affecting available liquidity, which can tighten supply and amplify price moves when buying interest increases.
On-chain analytics provider Lookonchain flagged big transfers as well. Analysts traced a 1,600 BTC movement — a transfer valued at roughly $120 million — routed between major custody services, including Binance and BitGo. Such large transfers into new or private wallets are commonly interpreted as accumulation rather than active trading.
That said, risks remain. Macroeconomic developments, regulatory actions, and overall market sentiment continue to influence short-term price behavior and could counterbalance accumulation-driven momentum.
At the time of reporting, BTC was trading at $75,674, down about 2.22% over the previous 24 hours.