- Bitcoin hits $105,841 as whale wallets surge to 17,799, signaling strong institutional interest and strategic accumulation.
- Bitcoin’s dramatic increase from $102K to $105K is driven by whale activity, underscoring their increasing impact on market dynamics.
- Despite growing whale wallet counts, investor optimism is seen in Bitcoin’s positive momentum from late 2024 to early 2025.
Bitcoin reached its all-time high of $105,841.64, which hasn’t been overtaken since December 2017. There is a matching increase in whale activity. The number of wallets with more than or equal to 100 Bitcoin hit 17,799 on January 17, 2025, the second-highest number in over seven years.
Whale Wallets Surge Alongside Price Increase
The rise in whale wallet numbers aligns closely with Bitcoin’s price escalation. Wallets with 100 BTC or more have shown growth since late 2024. Additionally, from July 2024 until early 2025, the price trend of Bitcoin grew. Bitcoin’s intraday volatility was seen by January 17, 2025, when it reached a high of $105,841.64 and a low of $102,229.25.
Source: Santiment
Moreover, the consistent growth in whale wallets suggests strategic accumulation by large investors. This trend appears to be driving price surges. Notably, the data reflects that whale wallet growth intensified during Bitcoin’s sharper climbs in late 2024. Hence, the interplay between these metrics indicates that institutional interest and accumulation are influencing Bitcoin’s value.
Market Dynamics Reflect Strong Institutional Activity
Bitcoin’s price movements have been marked by periods of consolidation and acceleration. In late November 2024, the price began a sustained climb. This bullish momentum has extended into early 2025, coinciding with increasing whale activity. Consequently, this suggests large holders are positioning themselves for long-term gains.
Additionally, the detailed trading data from mid-2024 to early 2025 reveals key price levels. These include periods of stabilization and upward momentum, signaling strong investor confidence. The purple line on the chart illustrates whale wallet growth, which has remained steady and positive. Hence, this growth reinforces the argument that whale activity is a pivotal factor in Bitcoin’s price trends.
