Whale-sized Bitcoin holders are hoarding more coins even as prices fluctuate. According to blockchain tracker Santiment, wallets holding at least 1,000 BTC have added 104,340 BTC in recent weeks.

Reports indicate that the total supply held by them gigantic wallets reached 7.17 million BTC, the highest level since September 15, 2025. Mid-sized holders also joined in, adding approximately $3.21 billion worth of Bitcoin between January 10 and 19. Small retail wallets moved the other way, offloading approximately 132 BTC worth approximately $11.66 million.

Whales up the ante

The numbers indicate patient purchasing by gigantic players. Large transfers of $1 million or more hit a two-month high, suggesting vital players are back online.

According to Saintlythis type of flow is often associated with institutions and wealthy investors moving coins between depositories, exchanges and private wallets.

Some of these moves are driven by strategic choices; some are intended to secure farms. Either way, the growing pile in the whales’ hands changes where the supply is.

Smaller holders are withdrawing, while the so-called shrewd money increases exposure. Reports say that mid-sized wallets – those holding between 10 and 10,000 BTC – were net buyers during the same period.

🐳 Large Bitcoin whales are accumulating at an encouraging pace, wallets with at least 1k $BTC they collected a total of 104,340 more coins (an raise of 1.5%). Additionally, the number of daily transfers of more than $1 million has returned to its highest level in two months.

🔗Graph: https://t.co/CJOfiOBbWU pic.twitter.com/4loxDFtUdb

— Santiment (@santimentfeed) January 25, 2026

Price action and market signals

Bitcoin price did not match the hopeful action in the chain. At one point, it was trading around $87,730, with intraday swings ranging from $86,500 to $87,500.

The value of alpha crypto assets dropped by approximately 0.5% in 24 hours and approximately 5.4% compared to the previous week. However, volumes have increased, indicating that some investors are entering these levels.

The picture is mixed: on-chain accumulation suggests a base is forming, but macro headlines keep the market on edge.

Strength in the chain and headers

Rising large-holder stocks could support future growth if external stresses abate. However, prices fluctuate more than Bitcoin flows. Large transfers and increasing accumulation mean that demand exists below the surface, but this demand has not yet fully pushed the market upwards.

Macro risks and market disruptions

Geopolitical unrest casts a long shadow. Reports say that US President Donald Trump has directed warships towards it areas of tensionand forecast markets indicate a significant chance that the U.S. could strike Iran by June.

Trade frictions with Canada over recent car regulations has created fresh political noise, with Polymarket indicating that the likelihood of a US government shutdown is over 70%. These are real risks that could drive up oil prices, shake up markets and dampen appetite for risky assets.

Featured image from Unsplash, chart from TradingView