Bitcoin neared $75,000 this week as on-chain data shows large holders have pushed their combined supply to its highest level since mid‑February.
Santiment, the on-chain analytics firm, flagged the shift in a post on X, pointing to renewed accumulation among so‑called “whales” — addresses holding between 1,000 and 10,000 BTC. At today’s prices, that range represents roughly $74.5 million to $745 million, meaning this cohort captures investors with substantial capital at stake.
According to Santiment’s chart, whale-held supply fell earlier this year as large investors distributed coins, bottoming out in mid‑March. Since then the metric has reversed higher, and the pace picked up dramatically over the weekend: whale‑sized wallets added 27,652 BTC on Sunday alone, a haul worth more than $2 billion. That buying pushed the whale supply back up to about 4.25 million BTC — its highest level since mid‑February.
The accumulation coincided with Bitcoin’s rally toward the $75,000 area, suggesting that renewed demand from big holders may have helped fuel the move. That said, whales are also capable of quickly changing course; Santiment notes that in February these investors flipped from buying to selling, bringing their holdings lower than where they started. As a result, monitoring whale behavior remains important, since further large-scale buying or distribution could meaningfully influence price action.
This isn’t limited to Bitcoin. Santiment also pointed out growing concentration among large Ethereum holders: the number of wallets holding at least 100,000 ETH rose from 54 to 57 in the past week. The firm said such increases often correlate with price strength and argued the influx of big‑money capital supports the case for continued upside in the second‑largest crypto by market cap.
At the time of writing, Bitcoin is trading around $74,500, roughly an 8% gain over the past week.
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