Bitcoin whale balances rebound after record sell-off ends

Bitcoin whale balances have rebounded by 21% after the fastest distribution phase since early 2023 came to an end.

Data shows addresses holding between 1,000 and 10,000 Bitcoin added roughly 46,000 BTC over the past week.

The increase pushed the one-year net change in whale holdings back into positive territory for the first time since late 2025.

Analysts said the rebound followed a steep drawdown of about 220,000 BTC, marking the sharpest decline since 2023.

The recovery comes after whale accumulation previously peaked at around 400,000 BTC in December 2024.

Mid-sized holders, known as dolphin addresses, continued reducing exposure despite the whale rebound.

Dolphin balances fell further to around 589,000 BTC, extending a multi-month slowdown in demand.

Exchange-traded funds and corporate treasuries make up a large share of dolphin addresses, according to analysts.

Dolphin flows have had a greater impact on Bitcoin’s price during the current cycle due to their scale.

Historically, renewed whale accumulation has often preceded major Bitcoin price rallies.

Market observers said the latest data could signal early structural support rather than an immediate price catalyst.

At the time of reporting, Bitcoin price was $95,778.59.