Bitcoin Whales Accumulate $3.2 Billion While Retail Investors Sell

reports that Bitcoin whales and sharks accumulated 36,322 BTC between January 10 and January 19, 2026. The purchase totaled $3.21 billion during this period. Santiment, a crypto sentiment platform, provided the data in an analysis posted on Tuesday.

Bitcoin wallets holding between 10 and 10,000 coins conducted the buying activity. These addresses are often called "smart money" by market analysts. During the same timeframe, retail wallets offloaded 132 BTC worth $11.66 million. Bitcoin traded at $89,110 at the time of publication, down 4.55% over 24 hours.

Santiment stated that optimal conditions for a crypto breakout occur when smart money accumulates and retail dumps. The analysis noted this pattern creates a long-term bullish divergence. Bitcoin experienced volatility following President Trump's January 2025 inauguration. The cryptocurrency dropped nearly 7% on Monday after Trump discussed imposing tariffs on eight European countries.

Impact on Market Confidence and Trading Behavior

This accumulation pattern shows institutional investors maintain conviction during price declines. documented that Bitcoin mega whales accumulated 52,500 BTC worth $5.7 billion in October 2025 alone. Large holders doubled to 262,000 addresses in two months and purchased over 375,000 BTC in 30 days.

The buying activity contrasts sharply with retail behavior. CryptoQuant CEO Ki Young Ju said retail has left Bitcoin markets and whales are buying. The Crypto Fear & Greed Index posted a fear score of 32 on Tuesday. This reading suggests market participants remain cautious despite whale accumulation.

Bitcoin options open interest surpassed futures in July 2025, reaching $65 billion by early 2026. This shift reflects preference for volatility-based hedging over leveraged bets. Institutions now use options to manage risk, with flows leaning toward call options. The Altcoin Season Index shows a Bitcoin score of 29 out of 100, based on top 100 altcoin performance relative to Bitcoin.

National Reserve Trends Reshape Global Bitcoin Strategy

Government interest in Bitcoin reserves has accelerated alongside institutional accumulation. reports that 27 countries now hold Bitcoin in their reserves as of December 2025. The United States established a Strategic Bitcoin Reserve in March 2025 through executive order.

We previously documented 100 reasons why nations should consider Bitcoin reserves, including protection against currency devaluation and reduced dependence on SWIFT payments. Senator Cynthia Lummis proposed the U.S. acquire one million BTC as part of national reserves. States including Arizona, New Hampshire, and Texas passed Strategic Bitcoin Reserve legislation.

The convergence of whale activity and state adoption reflects Bitcoin's transition from speculative asset to strategic reserve. Czech National Bank announced it will consider holding up to 5% of its 140 billion euro reserves in Bitcoin. Pakistan, Japan, Poland, and Brazil introduced similar legislative proposals during 2025.

Long-term holders now control over 63% of circulating Bitcoin supply in institutional custody addresses. This concentration reduces available supply and creates tighter market conditions. The current accumulation pace mirrors patterns that preceded major price rallies in previous cycles. Analysts project Bitcoin may reach $95,000 to $130,000 as institutional adoption continues through 2026.