Bitcoin Whales Return in 'Full Force' for the Rally, Says Glassnode

The on-chain analytics platform Glassnode has indicated a sharp increase in Bitcoin accumulation by large investors, especially during the current price rally.

Mega Whales Lead With Strong Accumulation Activity

In a recent post on X, Glassnode analyzed how the Accumulation Trend Score has evolved across various investor groups. This on-chain metric reveals whether Bitcoin holders are in a phase of accumulation or distribution.

The indicator takes into account not just wallet balance changes but also wallet size, meaning that larger addresses have a higher influence on the score.

A reading of more than 0.5 indicates active accumulation, while readings near 1.0 signify robust buying pressure.

A reading lower than 0.5 indicates selling or neutral behavior, where 0 represents extreme distribution.

While the overall market score is not the highlight here, the report stresses the accumulation trends across different investor cohorts, precisely divided on the basis of wallet size.

Mega Whales (10,000+ BTC) Are Accumulating

According to Glassnode's chart, the market of Bitcoin market has been mostly in distribution mode for the last few months. But from last month onwards, a certain segment—10,000+ BTC holders—started diverging from the others.

These holders, even bigger than the average whales (1,000–10,000 BTC), are referred to as mega whales. Not only did they stop distributing, but they began aggressively accumulating too. Their Accumulation Trend Score has now risen to almost 0.9, showing a strong buying attitude.

Whales and Sharks Join the Trend as Well

The average whale group (1,000–10,000 BTC) has also recently turned around, reaching a score of 0.7, a solid indication of new interest.

The sharks—large holders of 100 to 1,000 BTC—are lagging slightly with a neutral reading of 0.5, which suggests a potential future change in their behavior. Smaller holders are still in distribution mode.

This activity is similar to December 2024, when mega whales started selling before the general market change. This time, the situation is reversed, with large holders driving accumulation during the rally.

Bitcoin Price Update

Bitcoin (BTC) broke through the $94,000 threshold recently before pulling back slightly. Currently, the price is at around $92,600, a reflection of some near-term instability amidst more general bullish action.

When mega whales in Bitcoin come back in full swing, their accumulation may be an indicator of faith in a continued rally—if other segments continue to copy.

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