Key Highlights
- Major Bitcoin holders accumulated 61,568 BTC during a 30-day period in March.
- Wallets containing 10 to 10,000 BTC grew their positions by 0.45%, according to Santiment data.
- Smaller wallets holding less than 0.01 BTC increased by 213 BTC, representing 0.42% growth.
- March saw continuous outflows from exchanges, suggesting ongoing accumulation patterns.
- On March 19, two major holders transferred substantial BTC amounts to exchange platforms.
Major Bitcoin holders grew their portfolios by 61,568 BTC during March amid rising geopolitical uncertainties. Data from Santiment revealed that addresses containing 10 to 10,000 BTC expanded their holdings by 0.45%. Simultaneously, retail-sized wallets contributed 213 BTC to the accumulation trend, showing a 0.42% increase.
Major Holders Expand Bitcoin Positions During Range-Bound Trading
Santiment reported that addresses holding 10 to 10,000 BTC added 61,568 coins over a one-month timeframe. The analytics platform shared these findings on X, connecting the activity to consistent withdrawals from exchanges. Throughout March, these outflows maintained steady momentum, pointing toward deliberate accumulation strategies. Market observers noted that wealthy addresses built positions while Bitcoin traded sideways.
The analytics platform indicated this behavior typically appears before price advances. Their analysis stated, “Ideally, the ranging pattern will break upwards when large wallets are accumulating, while retail is dumping.” The report emphasized that this configuration has “historically been a very reliable pattern to signal the start of bull cycles.” Santiment connected current whale behavior to earlier breakout scenarios.
Despite accumulation trends, certain large holders moved funds to exchanges during recent turbulence. Two whale addresses deposited tens of millions worth of BTC to trading venues on March 19. Bitcoin experienced downward pressure as energy markets reacted to strikes on Gulf oil infrastructure. Tensions involving the US, Israel, and Iran escalated throughout February and March.
Large Holders and Retail Investors Display Different Accumulation Patterns
Analysis revealed that wallets containing under 0.01 BTC grew by 213 coins during the measurement period. This activity represented a 0.42% expansion across the same 30-day window. Santiment’s tracking showed smaller participants purchased during brief price rallies. Meanwhile, wealthy holders acquired coins during sideways market conditions.
Dominick John from Zeus Research discussed these contrasting approaches. Speaking with Cointelegraph, he explained, “Whales are scooping up BTC because they’re positioning ahead of a potential breakout.” John noted these investors build holdings discreetly while prices consolidate. He observed that smaller wallets typically react to upward momentum and worry about missing opportunities.
John further outlined how institutional accumulation occurs in phases. He commented, “Whales tend to buy in waves, so accumulation could continue if the range holds.” He suggested excessive retail enthusiasm might create temporary pauses or corrections. His assessment followed recent large transfers to exchange platforms.
Sentiment indicators captured ongoing caution throughout cryptocurrency markets. The Crypto Fear & Greed Index registered a reading of 13 on Friday. This measurement placed overall market sentiment deep within “extreme fear” zones. The score represented among the lowest observations recorded throughout March.
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