Bitcoin News: Bitcoin Whales Quietly Accumulate as Price Climbs Back Toward $90K

Over 60 New Whale Wallets Emerge in April Amid Market DipBitcoin’s recent price correction hasn’t scared off the big players. On the contrary, new data shows that whale accumulation is ramping up, with over 60 new wallets holding 1,000 BTC or more added since early March.According to on-chain analytics firm Glassnode, the number of these large Bitcoin holders jumped from 2,037 in late February to 2,107 by April 15, marking a four-month high. This level of accumulation hasn’t been seen since the surges around Trump’s election win in late 2024.Whale Wallets Climb While Retail Activity SlowsWhile whales are aggressively stacking, smaller holders appear to be stepping back. Wallets holding fewer than 10 BTC have seen a slow decline in recent months. Meanwhile, addresses holding over 100 BTC have slightly increased, reaching 18,026 as of April 20.This divergence suggests a growing gap in market behaviour — with long-term, deep-pocketed investors showing strong conviction, while retail sentiment cools.Whales Absorb Over 300% of Annual BTC IssuanceOn April 18, Cointelegraph reported that whales were absorbing Bitcoin at rates exceeding 300% of the annual BTC issuance, putting additional pressure on supply while exchange reserves continue to shrink.Glassnode data confirms that wallets holding over 10,000 BTC remain in aggressive accumulation mode. These entities are typically linked to institutions, funds, or early adopters with a long-term outlook."Whales are accumulating massive amounts of Bitcoin — they know what comes next," noted Bitcoin trader Mister Crypto on April 20.BTC Breaks Out as Bullish Momentum BuildsFollowing weeks of consolidation, Bitcoin jumped over $3,000 on April 21, reclaiming the $87,400 level for the first time since March 28. This price movement coincides with a breakout from a multi-month falling wedge — a pattern that often signals the start of a bullish reversal.Some analysts now believe Bitcoin could retest its all-time high and approach six-figure territory by May, especially if large-scale accumulation continues and market confidence rebounds.