Large Bitcoin holders, known as whales and sharks, accumulated 61,568 BTC over the past month despite escalating Middle East tensions and macroeconomic uncertainty. Data from Santiment indicates these wallets, holding between 10 and 10,000 BTC, increased their holdings by 0.45%. Concurrently, investor sentiment remains in “extreme fear,” according to the Crypto Fear & Greed Index.
Large Bitcoin holders accumulated 61,568 more Bitcoin over the past month against the backdrop of escalating conflict in the Middle East and macroeconomic uncertainty. Whales and sharks, defined as those holding between 10 and 10,000 Bitcoin, increased their holdings by 0.45% according to data from Santiment.
The figures support recent data showing that Bitcoin exchange outflows have persisted, indicating accumulation rather than selling. Santiment analysts said that whale accumulation could be a “promising sign” of an eventual breakout from the range.
Some Bitcoin whales are taking a different approach, however. On March 19, two Bitcoin whales moved tens of millions of dollars to exchanges as Bitcoin fell and energy prices jumped after attacks on Gulf infrastructure.
Dominick John, an analyst at Zeus Research, told that “Whales are scooping up BTC because they’re positioning ahead of a potential breakout, quietly stacking during consolidation periods.” He added that small wallets are driven by FOMO during uptrends.
Meanwhile, investor sentiment remains deeply uncertain. The Crypto Fear & Greed Index returned a score of 13, firmly in “extreme fear” territory. Both the prior week and the month of February averaged “extreme fear” ratings as well.
