Large Bitcoin holders are beginning to accumulate again as the cryptocurrency trades close to $71,000, signaling a possible shift in market sentiment. On-chain data shows that wallets holding between 10 and 10,000 BTC have slightly increased their share of the total Bitcoin supply over the past week.
These wallets now control approximately 68.17% of the circulating supply, up from 68.07% seven days earlier. The renewed accumulation comes after a brief period when major holders reduced their exposure during Bitcoin’s rally above $70,000 earlier this month.
Market observers view the change as a potential bullish reversal, suggesting that large investors may be positioning themselves for future price appreciation.
Retail Investor Behavior May Confirm Market Bottom
Analysts say the next key signal will come from retail investors. Historically, market bottoms tend to form when smaller investors begin selling while large holders quietly accumulate.
If the share of smaller wallets declines while whale balances continue rising, it could indicate a transfer of coins from short-term traders to long-term holders.
Bitcoin Market Sentiment Remains Cautious
Despite the accumulation trend, broader sentiment remains cautious. The Crypto Fear and Greed Index currently sits in the “Extreme Fear” zone at 16, reflecting ongoing uncertainty among investors.
Bitcoin is trading near $71,350 at the time of writing, gaining about 6.30% over the past week and roughly 7.55% over the past 30 days. Meanwhile, US spot Bitcoin exchange-traded funds recorded their first five-day inflow streak of 2026, attracting about $767.32 million in new capital.
Some analysts caution that a confirmed market bottom may still take time. Continued retail buying could indicate lingering optimism, which historically appears before additional downside.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.