Bitcoin is experiencing a surge in accumulation from both retail investors and large holders, echoing bullish trends last seen during the 2024 U.S. election cycle.
Bitcoin (BTC) currently trades around $117,943 as the number of whale wallets—those holding 1,000 BTC or more—has increased from 1,392 to 1,417 in just one week, according to Glassnode data. This uptick represents one of the highest whale counts in 2025, indicating renewed confidence among institutional investors and high-net-worth holders.
Glassnode identifies whale entities by grouping together multiple addresses owned by the same individual or organization, offering insight into true investor behavior.
Alongside whales, smaller holders—known as shrimps with less than 1 BTC—are also stepping up their buying, as shown by the Accumulation Trend Score. This key on-chain metric tracks buying momentum over the last 15 days, with scores closer to 1 signaling strong accumulation. Exchanges and miners are excluded to highlight genuine investor sentiment.
This coordinated buying pattern has not been observed since November 2024, a period that saw Bitcoin rally to $100,000 amid heightened market optimism surrounding the U.S. presidential election.
Given this widespread accumulation across investor sizes, many market watchers see Bitcoin as poised to test and potentially break past its previous all-time highs in the near term.
