Santiment data shows the number of bitcoin wallets holding at least 100 BTC increased by 753 wallets over the past three months, a 3.9% gain, even as BTC market value fell 20.2% during the same period.
The divergence between rising whale accumulation and declining prices represents a bullish technical signal in blockchain analytics. Large holders are expanding positions while short-term price volatility persists, suggesting institutional and high-net-worth investors view current valuations as attractive entry points despite near-term market weakness.
On-chain metrics increasingly diverge from price action, with accumulation patterns typically preceding sustained rallies. The growth in whale-sized holdings indicates conviction among sophisticated market participants that current levels offer asymmetric risk-reward positioning, independent of immediate price momentum.