Bitcoin Whales Are Scooping Up 300% More BTC Than Mined — Is $100K Next?
Massive Whale Accumulation Hints at a $100K Bitcoin Price Surge by May
Bitcoin’s largest holders—often referred to as whales and sharks—are making big moves, rapidly absorbing Bitcoin at rates far exceeding new supply, sparking speculation that BTC could break $100,000 within weeks.
According to on-chain data from Glassnode, these heavyweight investors are buying more than 300% of newly mined Bitcoin, creating supply shock conditions that could drive the next major price rally.
BTC Supply Dries Up on Exchanges as Big Holders Accumulate
The latest data shows that Bitcoin’s yearly absorption rate by exchanges has plunged below -200%, signaling a historic outflow from centralized exchanges. This trend suggests a surge in self-custody and long-term holding, especially among high-net-worth crypto players.
Meanwhile, whales—those holding 100 to over 1,000 BTC—are absorbing three times the current issuance, marking the fastest accumulation rate in Bitcoin history.
“This is a structural shift,” analysts say, linking the trend to increased institutional involvement and the rise of Bitcoin ETFs following last year’s approvals.
Confidence Among Mega Whales Remains Strong
The Trend Accumulation Score—a metric ranging from 0 (distribution) to 1 (accumulation)—is currently at 0.7 for whales holding over 10,000 BTC, as of April 18. This shows strong buying confidence among Bitcoin’s most influential holders.
Even smaller cohorts that were selling earlier this year, including 1–100 BTC holders, are returning to neutral ground, suggesting market-wide stabilization.
“This behavior mirrors what we saw before the 2020 bull run,” notes on-chain analyst Mignolet, adding weight to the possibility of a repeat surge.
Technical Breakout Aligns With Bullish Momentum
In tandem with the on-chain trends, Bitcoin has broken out of a multi-month falling wedge pattern, a classic bullish reversal signal in technical analysis.
The breakout projects a potential upside target of $101,570, based on the wedge’s height and breakout point.
Still, Bitcoin must overcome key resistance levels, including the 50-day and 200-day exponential moving averages hovering near $85,300. Market analyst Scott Melker cautions:
“The 200-day moving average remains overhead as resistance… Bulls need to follow through with strength.”
If BTC breaks past the $88,804 level, it could trigger a momentum shift that confirms a bullish trend, pushing Bitcoin into six-figure territory sooner than expected.
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