Bitcoin Whale Wallets Surge as Institutions Eye Potential Rally

The number of Bitcoin (BTC) whale wallets holding at least 10,000 BTC is on the rise, according to data from leading on-chain analytics platform Glassdoor. This surge in accumulation signals growing confidence among major investors, even as the broader crypto market grapples with volatility and uncertainty in 2025.

Whale activity is often viewed as a strong indicator of future market moves. The steady increase suggests that large holders are positioning for a potential Bitcoin rally, possibly anticipating favorable macroeconomic conditions or institutional catalysts. This trend hints at a looming supply shock, especially if accumulation continues at the current pace.

Santiment reports that whales and sharks initially accumulated BTC in late 2024, paused, then sold off between mid-February and March. However, as of early March, wallets with at least 10 BTC have resumed buying, adding over 5,000 BTC—worth around $408 million at press time. Despite this massive accumulation, Bitcoin’s price has yet to respond.

Meanwhile, Bloomberg Intelligence strategist Mike McGlone remains cautious. He recently warned that Bitcoin could face a major downturn, comparing the current market to the Nasdaq 100 crash post-dot-com bubble. McGlone noted that, amid a rigid U.S. economic stance and declining equities, Bitcoin continues to behave like a risk-on asset, while gold gains as a safe haven.

McGlone predicts a possible drop to $70,000 this year, following Bitcoin's recent all-time high near $100,000. Though bearish in the short term, whale activity may paint a more optimistic long-term outlook.

As institutions quietly increase holdings, the stage may be set for Bitcoin’s next big move—making the current accumulation trend worth watching closely.