Since the end of March, Bitcoin 
$78,526 whales have quietly amassed 218,570 BTC, representing an additional control of 0.9% of the circulating supply. According to data provided by Santiment, wallets holding between 10 and 10,000 BTC now dominate 68.44% of the Bitcoin supply, highlighting a marked trend in long-term accumulation. As market sentiment rapidly recovers thanks to these whale acquisitions, Bitcoin traded around $119,000 as of July 31st.
Bitcoin Whales Ignite the Market Again
The whale-level investor group’s acquisitions in Bitcoin have continued unabated since March 25. Santiment reported that these wallets accumulated 218,570 BTC within just four months, categorizing this as “long-term accumulation.” Consequently, whales have become the dominant force, managing nearly two-thirds of the ecosystem.
Sentiment in the market has shown a significant shift during the same period. The Crypto Fear and Greed Index, which was lingering below 20 in mid-March, bounced back with whale entries at the start of April and settled at 62 points, indicating “greed” by the end of July. Experts attribute this behavioral shift to a “supply squeeze” created as large wallets absorb liquidity.
Exchange Withdrawals and Retail Investor Attention
Despite a correction to $116,000 on July 30, investor appetite remained strong. Data from Coinglass indicates that 20,258 BTC were withdrawn from centralized exchanges in the last 24 hours. The Coinbase exchange alone witnessed an exit of 12,105 BTC. Similarly, there was a withdrawal of 768,670 ETH from exchanges, with 479,000 moved from Coinbase and 140,000 from Binance.
Experts note that retail investors are also participating in this trend. As the Fed keeps its policy interest rate steady at 4.25-4.5%, creating stable liquidity conditions, investors are reassessing their risk perceptions. The steep decline in exchange balances reveals that both institutional and retail wallets are continuing to adopt a “hold-and-store” strategy.
