Bitcoin whale wallets have accumulated an additional 270,000 BTC over the past 30 days, showing the strongest accumulation flow since 2013. Blockchain media outlet Cryptopolitan on April 16 (local time) pointed to the buying as a key driver underpinning bitcoin's recent rebound.

Bitfinex called it the "largest whale buying streak since 2013." Spot buying has also remained strong over the past week, and the market's center has shifted from retail orders in late 2025 to orders from large investors. Over the past quarter, whales continued strategic accumulation, leading the spot market even when bitcoin moved within a narrow price range.

The accumulation pattern also differs from before. Retail investor orders tend to concentrate when prices fall, while whale buying has been more pronounced during sideways or relatively stable periods. This shift to spot buying also unfolded separately from a futures market that remains weak.

As absorption by large wallets continues, bitcoin holdings on exchanges fell to 2.68 million BTC. That is the lowest level in years.

Transfers of 1 BTC or more into Binance have also dropped noticeably. Over the past 24 hours, Binance saw net outflows of 6,310 BTC, and cumulative outflows over the past 30 days exceeded 13,000 BTC. Last week, the pace of bitcoin leaving exchanges rose to near a historical peak, making the accumulation trend clearer.

Selling pressure among holders has also weakened. The market has slowed in recent months, but there has been no clear capitulation. Wallets with holding periods of up to 7 years are now, on average, in profit territory. Bitcoin continued its recovery around $75,000, and the average realised price rose to $72,300, which was cited as a factor easing price 부담.

Some supply remains underwater. About 8.75 million BTC spread across multiple wallets remains in loss territory. Related indicators are improving, however. This cycle has seen fewer capitulation signals than in the past, and it was also confirmed that holders are not readily putting accumulated bitcoin on the market as they use other liquidity means.

Strategy's new purchases were also assessed as having affected spot market supply and demand. Strategy resumed buying based on STRC digital credit and was found to have absorbed some of the sell supply that came to market. With the impact of recent whale buying, the bitcoin sell wall rose to $77,980, and relatively small sell walls formed around $75,500 and $76,000. This is interpreted as a signal that demand remains solid.

Market participants are still waiting for a full-fledged directional shift. Bitcoin is down more than 40 percent from its peak, but it continues to respond to positive market news. Recent exchange flow data show whales reduced deposits in March and shifted to withdrawals during the latest market recovery phase.

Fear buying or chase buying is not appearing in the market at present. Instead, strategic accumulation led by large whale and shark wallets is continuing. An assessment says whether bitcoin can shift to stronger bullish sentiment will depend on moves by these wallets.