Large Bitcoin Holders Buy More as Market Faces Uncertainty

In Brief

• Large holders with 100–10k BTC increase holdings during price dips.
• Distribution by 1k–10k BTC holders creates market uncertainty.
• Bitcoin Sharpe Ratio collapse suggests risk-adjusted returns ahead.

Recent data from CryptoQuant highlights significant trends in Bitcoin’s accumulation and distribution patterns among various holder groups. Large holders, specifically those with 100–1,000 BTC and over 10,000 BTC, have consistently increased their Bitcoin holdings, especially during market corrections. 

This behavior suggests strong confidence in Bitcoin’s long-term value, with these holders taking advantage of price dips to accumulate more coins.

On the other hand, holders with 1,000–10,000 BTC have been seen distributing their Bitcoin, particularly during price rallies. This trend of distribution is creating uncertainty regarding a potential trend reversal.

 The actions of this group imply that, despite accumulation by large holders, the broader market may not be ready for a full uptrend. The current price of Bitcoin has been fluctuating around $85,000, and while some cohorts are increasing their holdings, the distribution behavior from the 1,000–10,000 BTC holders is preventing a clear confirmation of a market reversal.

Market Risk and Sharpe Ratio Insights

Further insights from the Bitcoin Sharpe Ratio chart show a dramatic collapse toward zero, signaling maximum uncertainty and risk in the market. This sharp decline in the Sharpe Ratio follows Bitcoin’s significant price fluctuations in recent years. 

A low Sharpe ratio typically indicates that Bitcoin is undervalued in terms of risk-adjusted returns, and analysts view this as a possible signal for upcoming price stabilization and future growth.

In addition to this, data from Santiment reveals that the number of wallets holding at least 100 BTC has risen by 91 since November 11, 2025, marking a 0.47% increase. This suggests that large holders, or “whales,” are continuing to accumulate Bitcoin despite market fluctuations. 

Meanwhile, the number of smaller wallets holding less than 0.1 BTC has been shrinking, which could point to retail capitulation. Historically, such patterns often precede a price rebound, as larger holders tend to be more confident in the market’s future potential.