Bitcoin Whales Accumulate 53K Coins Amid Broader Sell-Off

Bitcoin received fresh support as whale wallets added about 53,000 coins in the past week, their largest buying spree since November, helping prices stabilize after a steep drawdown. Data from Glassnode shows wallets with more than 1,000 coins added over $4 billion in the period, interrupting months of selling that have depressed Bitcoin to roughly 40% below its October peak. Excluding ETFs and exchanges, large Bitcoin-holding wallets have been net sellers over the past year, offloading more than 170,000 coins worth about $11 billion since mid-December. The price action reflects uneven support, with Bitcoin trading above $69,100 as it rebounded from a recent low of around $60,000. Analysts caution that accumulation by whales may be damage control rather than a sustained rally. Broader demand remains weak, with exchange-traded fund buyers and publicly listed companies that had embraced Bitcoin as a reserve asset both adding less aggressively. A fresh source of demand is needed to generate lasting momentum.