Bitcoin Whales Hit a Record High During the Bounce

The number of Bitcoin whales with balances from 10 BTC to 10,000 BTC rose to a record 20,338 addresses, and their holdings added about 60,000 BTC during the market recovery. This matters for traders and long-term Bitcoin holders.

This was reported by Santiment and CryptoQuant. The data shows that large holders were not waiting for a reversal in advance, but were increasing positions after the bounce had already started. That is now being read as a stronger signal than just a short-lived price spike.

Why is the whale record important right now?

The new peak of 20,338 addresses means that large wallets did not scatter during volatility. On the contrary, there were more of them. Santiment says this growth has continued without interruption since mid-July.

For the market, this is not a minor detail. When large players hold or add BTC during dips and rebounds, the supply available for sale often becomes smaller. That is why such data is closely watched by those tracking the medium-term trend.

The broader backdrop is also interesting. According to a CryptoQuant study, the Bull Score Index rose from 20 at the end of July to 90 on September 26, and was at 80 on October 13. That is already a zone they call extra bullish. We have already seen a similar market logic in our material about the 61,000 BTC case in Britain, where a large amount of coins and its market impact were also in focus.

Did whales buy before the bounce or after?

That is the key detail here. According to CryptoQuant, the combined balances of whales excluding exchange addresses and mining pools rose from about 2.94 million BTC at the end of August to nearly 3 million BTC. The increase was about 60,000 BTC, or 2%.

But this increase was not steady. In September, accumulation slowed, then sharply accelerated at the end of September and the beginning of October. In other words, large holders were entering during the price recovery, not before it. This looks like absorption of supply rather than a bet on a quick reversal before the move.

CryptoQuant stresses that balance changes alone do not prove spot buying. To confirm that, three more things are needed: rising balances during pullbacks, stronger spot demand, and weaker BTC inflows from whales to exchanges.

Market reaction

At the time of writing, BTC is trading near $81,344. The daily range was $81,241–$82,806, and the session change was −0.86%. This means the market has not yet left its nervous mode.

There are other signals as well. According to research, in October the average monthly amount of BTC withdrawn from Binance rose from 18,459 BTC in mid-August to about 30,000 BTC. That is more than 60% over two months. Such a move is often read as coins flowing from exchanges into colder wallets.

At the same time, spot Bitcoin ETFs in the US did not provide a strong impulse. On October 15, they posted only +$5.1 million in net inflows after −$261.4 million the day before. For October 12–15, the combined result was about −$146 million. That is a weak backdrop for a strong breakout.

• 20,338 addresses with 10 BTC to 10,000 BTC, a new high.

• About 60,000 BTC were added to whale balances.

• 2.94 million BTC was recorded at the end of August.

• Nearly 3 million BTC was reached later.

• BTC is now near $81,344.

• The session move was −0.86%.

What does this mean for investors?

For short-term speculators, this is a signal not to chase every move. If whales are adding coins after the bounce, the market may still need time to digest the previous move. That is not a guarantee of growth, but it is not a sign of weakness either.

For those holding BTC longer term, the picture is more interesting. If large wallets are indeed absorbing selling, then each pullback may be bought more quickly. But CryptoQuant explicitly warns that some of the movement may simply be address restructuring or coin transfers between cohorts.

So you should not look at one indicator alone, but at the combination of several: whale balances, spot demand, exchange flows, and price behavior during consolidation. That is what will show whether the bounce is turning into a more durable trend.

Frequently asked questions

What does the record of 20,338 whale addresses mean?

It is the number of wallets with balances from 10 BTC to 10,000 BTC, which reached a new high. For the market, this means large holders are not exiting BTC en masse, but are instead accumulating it.

Does the growth in balances prove that whales bought on spot?

No, it does not. CryptoQuant says sharp changes can be the result of transfers between wallets or restructuring. More data on spot demand and coin inflows to exchanges is needed.

Why is this important for the Bitcoin price?

When large holders keep their coins, there is less supply available for sale on the market. That does not guarantee growth, but it can help BTC get through pullback phases and sustain the recovery.

For now, the whale signal looks cautiously positive, but the market has not yet confirmed it with a strong flow of money. If you need to quickly sell Bitcoin to Monobank, you can do it without extra steps and more conveniently for everyday payments.

This material is not financial advice. Cryptocurrency trading involves significant risks. Part of this text was prepared with the help of artificial intelligence based on public sources and reviewed by our editorial team.