Recently, a group of investors known as “Bitcoin Whales,” who hold large amounts of the cryptocurrency, have purchased over 53,000 additional bitcoins. This marks the largest buying volume since November last year amid ongoing Bitcoin price declines, during which other investor groups have massively sold off and have yet to re-enter the market.
Data from Glassnode shows that Bitcoin Whales—investors holding Bitcoin wallets worth more than 1,000 coins—have accumulated more than $4 billion USD worth of Bitcoin. This trend could slow down the previous wave of portfolio sell-offs that have pushed Bitcoin’s price down by over 45% from its October peak (according to data fromCoinMarketCap)
Brett Singer, Head of Sales at Glassnode, said,“This buying pressure helps slow the decline, but more new money needs to flow in.”
Although whales have resumed buying, investors overall remain cautious. Excluding ETF funds and exchanges, major holders have been the largest sellers throughout the past year. Since mid-December, over 170,000 bitcoins—roughly $11 billion USD—have flowed out from these holders’ wallets.
Bitcoin reached a new high in October 2025 before dropping to $60,000 USD last week and then bouncing back near $70,000 USD. On the morning of 11 February, Thailand time, Bitcoin was valued at approximately $68,000 USD.
However, despite the renewed support from major holders, the key question remains: is this a sign of a real Bitcoin recovery or merely a price stabilization to prevent further steep declines? The buying-holding-selling behavior of large holders raises the recurring question of who will drive the next upward cycle.
Investors who purchased through ETF funds are currently incurring losses and are hesitant to increase investment. Meanwhile, publicly listed companies that previously bought Bitcoin as reserve assets have started slowing their purchases due to pressure on their own stock prices.
Without new buying momentum, this accumulation appears more like a temporary price support than a confident full recovery. Historically, such patterns may cause short-term price rebounds but rarely create long-term upward trends.
Bruno Ver, a long-term crypto investor, said,“Once the storm passes, we will buy again after selling off late last year, but for now, we are still in the storm.”
Glassnode’s data tracks wallet movements without identifying individuals directly; it may include large investors, custodial companies, and institutional-linked accounts.
In the past, strong recoveries were accompanied by sustained accumulation and participation from multiple investor groups simultaneously, a pattern not yet evident in this current downtrend.
Source:Bloomberg
Follow the Facebook page: Thairath Money at this link -https://www.facebook.com/ThairathMoney