Bitcoin (BTC) is making waves again, with its price climbing to $108,947, according to Santiment’s latest on-chain data.
The cryptocurrency is inching closer to its all-time high of $112,000, set on May 22, 2025, and a surprising trend is fueling this momentum: a significant increase in whale and shark wallets. Santiment reports a net gain of 622 wallets holding 10+ BTC since May 21, 2025, reversing a three-month decline. This shift suggests growing confidence among major holders as the market anticipates another price challenge.
The resurgence of these high-net-worth wallets—termed “whales” and “sharks” in crypto parlance—often signals bullish sentiment. A 2023 study from the Journal of Risk and Financial Management found that whale accumulation frequently precedes price breakouts, a pattern that could bode well for Bitcoin’s next move. Interestingly, this accumulation defies the typical expectation of profit-taking at peak prices, hinting at a strategic hold by institutional and long-term investors.
This trend aligns with broader market developments. On May, CNBC reported that JPMorgan has allowed clients to purchase Bitcoin, joining peers like Morgan Stanley in embracing crypto exposure. This institutional pivot, coupled with the wallet growth, underscores a maturing market where large players are positioning for potential gains. Santiment’s data, visualized in a detailed chart, further highlights fluctuating whale activity, offering traders a real-time pulse on market dynamics.
As Bitcoin hovers near its record, the question remains: will this whale-driven rally push it past $112,000? For now, the data paints an optimistic picture, though volatility remains a factor. Crypto enthusiasts and investors should keep a close eye on these on-chain metrics, as they may herald the next chapter in Bitcoin’s bull run.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
