Bitcoin Whales Return to Buying as Price Rebounds Above $90K

Large bitcoin holders are returning to buying after months of heavy selling, signaling renewed confidence at key support levels.

Throughout 2025, especially since August, whales and early BTC holders have been significant net sellers, reducing their holdings as prices climbed above $100,000. But recent market dynamics suggest a shift. Following a 35% drawdown from October highs, bitcoin bottomed near $80,000 and has now surged back above $90,000.

Data from Glassnode’s Accumulation Trend Score by cohort shows that entities holding 10,000 BTC or more have flipped to net accumulation over the past week, posting a score of 0.8—indicating strong buying activity. The 1,000–10,000 BTC cohort has also turned positive for the first time since September.

Meanwhile, holders with 100–1,000 BTC have been aggressively accumulating since October, continuing their buying during the correction. Retail holders with less than 1 BTC are now showing their strongest accumulation since July.

The Accumulation Trend Score tracks buying strength by wallet size over the prior 15 days, excluding exchanges and miners. Scores near 1 indicate net accumulation, while values near 0 indicate distribution.

The data suggests the market sees value in the $80,000 region. May’s support levels were in the low $80,000 range, including an $82,000 cost basis for U.S. spot bitcoin ETFs, reinforcing that buyers view this area as a fair value zone.