Bitcoin Whale Addresses Reach Four-month High
21 Apr, 2025 ● Crypto News
The number of wallets holding over 1,000 Bitcoin has seen a notable rise in April, pointing to increased accumulation by large holders, often referred to as whales.
Since early March, more than 60 new wallets containing over 1,000 BTC have been created, indicating a continued uptick in whale activity.
According to Glassnode, the total number of such addresses grew from 2,037 in late February to reach a four-month high of 2,107 on April 15.
This brings the figure back in line with two previous spikes in whale address activity seen in November and December, coinciding with a broader market rally following President Donald Trump’s election victory.
The record number of whale addresses occurred in February 2021, when it nearly reached 2,500.
In addition to the growth in large whale wallets, the number of addresses holding more than 100 BTC has also increased slightly this year, reaching 18,026 as of April 20, according to Glassnode.
In contrast, the number of smaller holders with less than 10 BTC has been declining over recent months.
A Cointelegraph report on April 18 noted that whales are currently accumulating Bitcoin at unprecedented rates, absorbing more than 300% of the asset's annual issuance, while exchange balances continue to decline.
Large holders with more than 10,000 BTC remain in accumulation mode, with dip-buying activity persisting, according to Glassnode.
“Whales are accumulating massive amounts of Bitcoin, they know what comes next,” said Bitcoin trader ‘Mister Crypto’ on April 20.
Meanwhile, Bitcoin’s price action has started to break out from a sideways range that began in early March.
On April 21, Bitcoin surged by more than $3,000, reclaiming the $87,400 level for the first time since March 28.
Analysts say this breakout from a multimonth falling wedge chart pattern could signal a bullish reversal, potentially setting Bitcoin up for a return to six-figure territory by May.
Sources:
https://cointelegraph.com/news/bitcoin-whales-addresses-hit-four-month-high-april
https://studio.glassnode.com/charts/addresses.Min1KCount?a=BTC&s=1731714958&u=1745107200&zoom=
