Whales are resuming accumulation above $90,000, with an Accumulation Trend Score of 0.8 among portfolios holding over 10,000 BTC, signaling a shift towards buying after months of distribution.
Whales Return to Accumulating around $80,000
According to Glassnode, entities holding over 10,000 BTC now have an Accumulation Trend Score of 0.8. This turnaround comes after a long phase of distribution in 2025, marked by massive sales while bitcoin was above $100,000.
The mega whales are not alone. Intermediate holders, between 1,000 and 10,000 BTC, are also turning positive for the first time since September. Further down the pyramid, wallets holding 100 to 1,000 BTC have been accumulating since October. Even retail holders, with less than 1 BTC, show their strongest buying intensity since July.
This cluster of signals suggests that the $80,000 zone was seen as an opportunity, not a threat. After bouncing off this level, the market swiftly reclaimed $90,000.
The $82,000 Threshold: A Pivot Supported by Bitcoin ETFs
A key marker at the moment is the US spot ETFs. Their average acquisition cost hovers around $82,000, anchoring this zone as a natural floor. As long as these products remain in net inflows, institutional investors implicitly validate this valuation as ‘fair.’
The market seems to have fully absorbed this. The simultaneous return of different accumulation cohorts as the price tested the ETF’s base cost reinforces the idea that the $80,000 range is now a major support.
A Psychological Shift After Months of Selling
Since August, major holders and some early adopters had significantly reduced their positions. The breach of $100,000 had sparked widespread profit-taking, contributing to the autumn correction.
The recent change signals a repositioning. After a 35% drop, the sentiment of large players shifts from caution to conviction. In a still young market where the behavior of major addresses carries weight, this turnaround is more than just a technical indicator.
Towards a Trend Reversal?
Bitcoin is gaining strength above $90,000, but the real news lies elsewhere: significant buyers are returning exactly where ETFs set their entry price. If this confluence persists, the $80,000 zone could become the foundation of the next uptrend.
For now, the message from the whales is clear. After months of downsizing, they are back on the side of those building. And in the history of bitcoin, this signal has rarely been insignificant.
