- Wallets holding 1,000–10,000 BTC have increased selling activity, aligning with the current pullback and signaling a profit-taking trend.
- Addresses holding 100–1,000 BTC are actively accumulating, treating the dip as a long-term entry point rather than exiting positions.
- Retail wallets were bought near highs, while large wallets reduced selling, reflecting a redistribution phase across Bitcoin’s cohort spectrum.
Bitcoin cohort dynamics have shifted sharply following the asset’s recent decline from all-time highs. Different wallet groups are revealing contrasting strategies—while large holders move to reduce risk, others are quietly accumulating.
Whale Distribution Increases With Price Retreat
Wallets containing 1,000 to 10,000 BTC have seen increased selling after the current pullback. This group, typically associated with an institutional desk or structured investment fund, appears to be taking profits after what looked to be a long uptrend. Their distribution has coincided with recent downward moves, suggesting a calculated effort to offload at favorable levels.
The timing of this shift reflects a pattern seen in previous cycles—whales reducing exposure as prices lose upward momentum. As their selling pressure increases, it adds weight to short-term bearish pressure, reinforcing existing declines. Market observers typically monitor this group closely due to its historical influence on liquidity and volatility.
Santiment confirmed that wallets from 10 to 10,000 BTC collectively added 218,570 BTC since late March. Despite the broader band showing accumulation, this specific 1K–10K BTC group has led the sell-side activity in the current phase.
Mid-Sized Holders Accumulate Through Downturn
Investors who own between 100-1k BTC have continued to add to their stacks lately. These mid-sized wallets are usually either an early institutional participant or just a wealthy person. Their constant accumulation in this downturn shows confidence in the long-term outlook.
This group has shown resilience in the face of falling prices. Rather than exiting positions, they appear to be entering or adding during perceived undervaluation. Their behavior often supports local floors during corrections and has historically acted as a counterbalance to whale selling.
By absorbing supply during moments of weakness, these holders help stabilize the market. The steady inflow into this range shows a longer-term perspective, favoring continued exposure over short-term trading.
Retail Buyers Enter Late, Largest Wallets Slow Selling
The smallest wallets—those holding between 0 and 0.01 BTC—have seen increased buying during recent price highs. This pattern, often linked to retail FOMO, shows a tendency to enter when optimism peaks. These wallets commonly function as exit liquidity for larger holders.
Meanwhile, addresses holding 10,000 BTC or more have slightly reduced their selling pace. Though not actively accumulating, they are no longer distributing at earlier rates. This may indicate cooling pressure at the top of the market and a wait-and-see approach among the largest stakeholders.
As distribution rises from whales and accumulation builds among mid-tier wallets, Bitcoin cohort dynamics offer insight into market structure during the pullback. These distinct flows signal a redistribution phase, where profit-taking and positioning coexist.
