- Whale wallets rose 3.6% since March, hitting their highest count since 2024.
- 3,704 BTC exited Kraken as whales shifted assets into long-term storage.
- Bitcoin whale demand surged as volumes spiked 37% despite sideways price action.
The number of Bitcoin whale addresses holding between 1,000 and 10,000 BTC has grown exponentially since early March. The surge represents a new wave of strategic accumulation not seen since the April 2024 halving buildup.
Whale Wallet Growth Signals Renewed Institutional Accumulation
Wallets in the 1k–10k BTC range increased from 1,944 to 2,014 over the last six weeks. According to a post by CryptosRus, this marks a 3.6% rise in high-value addresses, each controlling over $80 million in BTC. The growth rate has now reached its highest level since April 2024.
This accumulation unfolded as Bitcoin’s price remained stable between $64,000 and $70,000. Despite the sideways action, large entities continued adding to positions, ignoring short-term volatility. Strategic holders appear to be reinforcing positions ahead of potential market catalysts.
Strategic Expansion Mirrors April 2024 Patterns
Wallet data from Glassnode shows the 30-day net change in whale addresses climbing above 50 in mid-April. According to a report by Glassnode, this is the most aggressive accumulation trend recorded since the halving rally last year. The consistency of this increase suggests strong institutional demand across multiple wallets.
These whales are withdrawing large sums from exchanges and shifting BTC into long-term storage. Custody plans appear geared toward cold storage or private solutions, as no significant redepositing has been observed. Exchange outflows point to strategic intent rather than speculative trading.
Exchange Outflows Tighten Supply as Volumes Spike
One whale withdrew 3,704 BTC, worth $315 million, from Kraken with no return flow to trading platforms. Another 1,000 BTC, roughly $84 million, exited Binance in a single transaction. Both moves occurred during elevated volume, confirming strong demand.
Moreover, 24-hour trading volumes jumped 37% during this address expansion period. Despite muted retail interest, whales are steadily acquiring supply. The continued rise in wallet count suggests structural market support, backed by reduced circulating BTC on exchanges.
