PK Press Club – As the price of Bitcoin hovers around crucial levels in early 2025, a particular class of BTC holders has been quietly increasing their holdings.
In a recent report, on-chain analytics firm Santiment examined the behavior of wallets of different sizes on the network, which overall creates a very neutral signal for the coming weeks of crypto.
According to Santiment, Bitcoin whales with 10 and 10,000 BTC have accumulated 2,997 BTC since January 1, 2025, indicating increased confidence in Bitcoin’s long-term prospects.
This class of holders (10-10,000 BTC wallets), according to the report, were the main beneficiaries of the latest bull rally as they accumulated significantly, while others panicked and looked to time the highs. These have accumulated a staggering 257,000 BTC since October 1 and 199,000 BTC since November 5. Since the end of the year, their accumulation levels have cooled slightly. However, they have added 2,997 BTC since January 1, 2025.
Bitcoin Wallets Are Piling Up
Santiment also examines the behavior of other Bitcoin wallets. The 0.1-10 BTC wallet level sold an incredible 84,521 Bitcoins between October 13 and December 27, primarily fueling the bag of whales and sharks as well as price increases. Since then, however, these wallets have accumulated 5,604 BTC.
A similar trend is observed for 0-0.1 BTC wallets. During the recent bull run from October to December 24, these small traders continually took profits, often too early. This dumping pattern ended in the final days of 2024. Since December 29, they have added a small 585 BTC to their bags in a small effort to “buy the dip.” However, this is virtually flat compared to their typical moves.
Santiment also examines the growth of non-empty Bitcoin wallets. From October 13 through the end of 2024, there was a net reduction of just over 130,000 Bitcoin wallets, more than justifying the bull run that followed. Since then, there has been some growth, with 84,700 additional wallets.
At the time of writing, Bitcoin was up 5.97% over the past 24 hours to $96,107.
