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Large Bitcoin holders continue to aggressively accumulate their coins while individual investors withdraw their funds, fueling speculation for a potential big price jump to an all-time high (ATH) in the future.
According to blockchain analytics firm Santiment, over the past thirty days, wallets holding between 10 and 10,000 BTC accumulated an additional 83,105 BTC, while smaller retail wallets holding less than 0.1 BTC collectively lost 387 BTC in the same period.
Whales buy during the dip, and retail sells during the rise.
Santiment analysts have noted clear signs that small wallets are taking profits, perhaps fearing that the market may peak, while whales and sharks have doubled down. This sharp contrast, especially the widespread accumulation, has led analysts to say that Bitcoin's next rise may just be a "matter of time," and the asset could break through the $110,000 level, marking a new all-time high.
This expectation is based on increasing optimism regarding the macro economy, after the leading cryptocurrency rose to $105,800 on May 12 following news of easing trade tensions between the United States and China.
The two conflicting countries agreed to cease hostilities regarding tariffs for 90 days, as the United States reduced taxes on Chinese imports from 145% to 30%, and Beijing lowered its tariffs on manufactured goods from the United States from 125% to 10%.
However, while the agreement stimulated rises in global stocks and cryptocurrencies, Santiment urged caution at the time, noting in a previous post on X that the announcement might only define a framework agreement, not an executable agreement.
Experts advised against excessive expansion until the matter is confirmed, warning of a potential pullback similar to "buying the rumor and selling the news."