Bitcoin Whales Keep Buying as Short-Term Traders Bleed
Despite the recent choppy action in the crypto market, large Bitcoin holders have been quietly accumulating.
Since late March, wallets holding between 10 and 10,000 BTC have added over 53,000 coins, now accounting for nearly 68% of the total supply. This steady accumulation suggests that big-money players are unfazed by short-term noise and continue to signal long-term conviction.
While these heavyweight investors are doubling down, short-term holders are feeling the heat. Data from Glassnode shows that recent buyers are now sitting on significant losses—conditions that resemble the early stages of previous bear cycles.
In contrast, long-term holders remain largely in the green, having weathered far worse in past corrections.
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Interestingly, some early buyers have now transitioned into long-term holding status, a shift that has historically signaled deeper market cooling. Still, analysts aren’t ready to call this a full-blown bear market just yet.
The current environment remains uncertain, and while long-term conviction is strong, the overall direction of Bitcoin remains in flux.
What’s clear is that whales are repositioning, and that shift could become a defining factor for where the market heads next.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
