Large bitcoin holders keep adding to their positions even as the price struggles below $82,000. On-chain analytics firm Lookonchain reports that 40 newly created addresses withdrew 9,458 BTC, worth about $771.5 million, from market maker Wintermute since October 1. Coins that leave a trading firm for fresh wallets are often being held rather than traded, so moves like this are commonly read as accumulation.
The buying fits a broader pattern. CryptoQuant research shows large wallets resumed accumulating after months of selling, and together they now hold just over 3 million BTC, the highest combined balance since November 21, 2025. A separate report put whale purchases at almost 89,000 BTC in a single month.
Price has not followed yet. Bitcoin recovered from below $62,000 in early August to $87,000 in September, but it was rejected at $87,000 several times and briefly dipped below $80,000. It rebounded to $85,000 earlier this week, then fell more than $3,000 in about 36 hours and now sits below $82,000.
For traders, whale accumulation is a supportive signal, not a timing tool. It points to long-term demand at lower prices, but it does not stop short-term selling when ETFs see outflows or stocks slide. The $80,000 area remains the level many traders are watching.
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Sources:
- CryptoPotato: Bitcoin Whales Keep Buying Despite BTC’s Price Struggles
- crypto.news: Bitcoin price falls below $82K as spot ETFs see $635M in outflows
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