Bitcoin’s New Whales Dominate Market Amid $100K Milestone

Bitcoin’s (BTC) new whale accounts, holding 1,000+ BTC for less than 155 days, now dominate the market, controlling over 60% of large-cap BTC holdings. This shift, revealed by CryptoQuant expert Axel Adler, highlights the growing influence of short-term-holding whales, who surpassed long-term holders in Q4 2024. These traders, unlike traditional whales, actively respond to market trends, aligning their strategies with current phases like accumulation, growth, or profit-taking.

The rise of new whales coincided with Bitcoin’s surge past $55,000, accelerating as it surpassed its 2021 high. Between July 2024 and the year's end, their share of the market skyrocketed from 17% to 60%, driven by bullish sentiment and optimistic market expectations.

Adler views this trend as a positive indicator, as heightened activity from new whales often signals market optimism. Bitcoin’s ability to sustain momentum despite global uncertainties, such as the emergence of a powerful Chinese AI model impacting traditional markets like Nvidia (NASDAQ:NVDA), further underscores its resilience.

Although early trading hours saw crypto prices dip alongside broader market concerns, Bitcoin rebounded, reclaiming the $101,000 mark. This resilience reinforces BTC’s status as a hedge against macroeconomic turbulence. With new whales taking charge, their activity could continue to shape Bitcoin’s trajectory in the evolving crypto landscape.