Analyst: Bitcoin whales continue to increase their holdings at historical highs, suggesting they may be positioning themselves for future gains.

CoinDesk senior analyst James Van Straten released a market analysis stating that Bitcoin ($BTC) is currently only a few percentage points away from its all-time high of approximately $112,000. Despite the price nearing its high, large holders (whales) – i.e., investors holding more than 10,000 Bitcoins – have continued to increase their holdings recently, which is seen as a signal of their confidence in future price increases. According to Glassnode's trend accumulation score data, not only have whale wallets entered an active "accumulation mode" in recent days, but medium-sized wallets holding 1,000 to 10,000 $BTC have also begun to buy in large quantities. Conversely, small holders (including wallets holding less than 1 $BTC or 10 to 100 $BTC) have mostly chosen to reduce or distribute their holdings over the past few months. This clear contrast – with Bitcoin prices stable at around $109,000 – may mean that the market is undergoing a round of chip transfer from retail investors to institutional or high-net-worth investors. Accumulation scores show that strong buying interest began to emerge after Bitcoin hit a local low in mid-April (around $76,000). This increase in holdings by large players near all-time highs is further seen as a bullish signal, suggesting they may be positioning themselves for future price increases. [Odaily Planet Daily]