Bitcoin Whales Move Opposite Small Investors: Strong Signal for $90,000!

While large Bitcoin wallets accumulated about 87,000 BTC in three weeks, signs of profit-taking among small wallets are strengthening the possibility of a move above $90,000, according to Santiment.

In an analysis dated October 6, on-chain data platform Santiment reported that wallets holding between 10 and 10,000 BTC added a total of 86,702 BTC to their balances over the past three weeks. The total amount of Bitcoin held by this group reached its highest level since April 23.

While accumulation continues in whale and large-investor wallets, wallets holding less than 0.01 BTC are showing signs of profit-taking. The two investor groups are therefore responding differently to Bitcoin’s rise.

Why do small wallets matter while whales accumulate?

Santiment says that changes in the balances of large wallets have historically been closely correlated with Bitcoin’s price, while wallets with very small balances often move in the opposite direction. According to the platform, when small investors move to take profits during a rally while large investors continue accumulating, it has historically created conditions that support further price increases.

What stands out this time is not only that the large-wallet group has increased its balance, but that it has reached a total amount of Bitcoin not seen since April. Along with signs of profit-taking among small wallets, this divergence forms the basis of the analysis’s bullish outlook.

All eyes on Bitcoin’s $90,000 threshold

Santiment views this picture as making it increasingly likely that Bitcoin will rise above $90,000 in the near future. The expectation is based on the simultaneous accumulation by large wallets and profit-taking among small wallets.

The platform does not give a specific date or probability of success; $90,000 is being watched as a price threshold highlighted based on these wallet behaviors.