A fresh cohort of Bitcoin whales has emerged, according to a new on-chain report by CryptoQuant.
These are wallet clusters holding at least 1,000 BTC each, with coin ages under six months—indicating recent accumulation rather than legacy holdings.
From March 1 to June 4, 2025, this group of “new whales” has doubled its holdings from approximately 500,000 BTC to 1.1 million BTC. The accumulation represents around $63 billion worth of Bitcoin removed from circulation.
Key Data and Market Implications
According to data from CryptoQuant’s “Supply Held by New Whales” indicator—which excludes long-dormant wallets to focus solely on recent balance sheet decisions—the supply held by this cohort rose from 2.5% to 5.6% of total BTC supply. This 3.1 percentage point increase is equivalent to nearly 10 months of mining output absorbed in a short period.
CryptoQuant’s report outlines three primary reasons why this matters:
- The young age of the coins in these wallets suggests this is newly invested capital, not shuffled legacy assets. These positions were built recently, showing fresh conviction in the market.
- The rapid absorption of newly mined BTC tightens supply and historically precedes periods of increased price volatility and upward movement. This points to a potential supply squeeze.
- The activity by these aggressive and well-capitalized buyers may be positioning ahead of major macro catalysts such as interest rate cuts, ETF inflows, or other structural drivers of demand.
What Analysts Recommend Monitoring
CryptoQuant also advises market participants to closely monitor several key metrics in the coming weeks:
- Watch for exchange inflows and outflows from these wallets, as that may offer the first sign of profit-taking.
- Monitor ETF basket activity to validate whether this whale cohort is linked to institutional inflows.
- Compare derivatives funding rates against whale accumulation behavior to detect early divergence signals that may precede volatility shifts.
The report concludes by emphasizing that when new whale wallets accumulate at this pace, market structure can shift quickly. Investors are encouraged to remain vigilant and closely follow on-chain signals.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/new-bitcoin-whale-cohort-accumulates-63b-in-btc/