Bitcoin (BTC) has just soared past $118,000, marking a fresh all-time high—yet many retail traders are sitting out of the rally. According to Santiment data, the number of small, non-empty BTC wallets has declined, while whale wallets have grown—a trend that has historically signaled major price surges.
Over the past 10 days:
- Wallets holding 0.001–10 BTC have dropped by 37,465, reflecting retail boredom, fear, or profit-taking.
- Wallets holding 10+ BTC have increased by 231, indicating strategic accumulation by whales.
This behavior mirrors patterns seen during past bull runs. As smaller investors sell out, larger players accumulate—and BTC continues to climb. Analysts refer to this as a "disbelief rally", where the crowd expects a correction, but price action moves sharply in the opposite direction.
This divergence between retail sentiment and whale behavior often precedes extended uptrends. In fact, previous Bitcoin peaks have occurred after similar wallet activity, suggesting bullish momentum may still have room to grow.
What it Means for Traders:
- Low retail involvement may mean fewer emotional selloffs and healthier price discovery.
- Whale accumulation supports long-term strength, especially alongside institutional demand (e.g., spot ETFs).
- Traders should monitor wallet trends, not just price action, to spot future inflection points.
TL;DR: Bitcoin is making new highs while retail steps aside. Historically, this has been a strong bullish signal—whales buy low while the crowd waits.
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