Bitcoin is still super popular with investors, and that’s a good sign. This strong interest usually means the price is likely to go up eventually.
Whale and Shark Activity Fuels Bitcoin Demand
Big Bitcoin investors (we call them whales and sharks) have been buying a lot of Bitcoin lately. Data from Santiment shows this clearly. They’ve been accumulating over 1,002 coins per day for the past few days. This is happening even with all the talk around a recent political event (Trump’s inauguration), which usually causes a sell-off.
Five Cycles of Whale Activity
Santiment looked at the past six months and found five distinct periods where whale and shark activity significantly affected Bitcoin’s price:
- July 20 – October 11, 2024: Daily accumulation of about 164 BTC, resulting in a 7.3% price drop.
- October 11 – November 5, 2024:
Daily accumulation of over 884 BTC, resulting in a 9.8% price increase. - November 5 – December 26, 2024: Daily accumulation of 2,060 BTC, resulting in a massive 35.8% price spike!
- December 26 – January 15, 2025: Daily accumulation of about 156 BTC, resulting in a 6.2% price increase.
- January 15 – Present: Daily accumulation of 1,002 BTC, with a 2.8% price increase so far.
The current daily accumulation of over 1,000 BTC is a really strong signal.
Will This Lead to a Bitcoin Rally?
When whales and sharks buy this much Bitcoin, it often suggests they expect the price to go up. Conversely, if they stop buying or start selling, it could mean a price correction. Right now, with the continued strong buying, a price increase seems likely. Especially since Bitcoin recently hit a new all-time high.
The Bottom Line
Santiment’s data shows that large investors are very interested in Bitcoin. This consistent buying activity is a key thing to watch, and it strongly suggests a positive outlook for Bitcoin’s price in the near future.
