Bitcoin's largest holders have flipped from selling to buying. Over the past 60 days, wallets tracked by Cryptoquant added roughly 43,000 BTC — worth about $2.75 billion — ending a stretch of steady selling from the same cohort. The data, published this week, shows a clear reversal for a group that had been offloading bitcoin for months.
The numbers
Cryptoquant's figures show the accumulation happened over a two-month window. The 43,000 BTC is a net addition across a set of large wallets, which the firm tracks separately from exchange balances and mining operations. The value, about $2.75 billion, makes this one of the bigger whale moves in recent memory.
End of a selling streak
The buying ends a period where these same wallets were reducing their holdings. For months, the cohort had been selling, and the recent accumulation marks a clear shift in direction. The change is notable not just for its size but for its timing — it comes after a sustained stretch of distribution.
Who's behind the buying
The data excludes exchange wallets and mining pools, so the accumulation is coming from entities that hold bitcoin in their own custody. That could include private funds, family offices, or individual investors with large positions. The exact identities aren't disclosed, but the pattern is consistent with long-term holders adding to their stacks.
What to watch
The next few weeks will show whether this is a one-off or the start of a longer trend. Cryptoquant updates its whale metrics regularly, so the data will reveal if the buying continues. For now, the reversal is a clear change from the recent pattern, and it's worth keeping an eye on.
