Large holders with over 10,000 BTC continue to add, showing signs of market divergence

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According to the latest data from on-chain analysis platform Glassnode, large holders with 1,000 to over 10,000 BTC have been continuously buying recently, with the accumulation trend score approaching 1 (the maximum). This indicates that holders of this size are quite optimistic. In stark contrast, retail investors holding fewer than 1,000 BTC are net selling, showing a completely different behavior pattern.

This divergence aligns closely with market sentiment indicators. Over the past month, the Fear and Greed Index has remained in the “Fear” or “Extreme Fear” zone. This suggests that while most retail investors are selling out of fear, large holders with over 10,000 BTC are counter-trend, leveraging the market pessimism to steadily increase their BTC positions.

The “whales buy, retail sell” pattern has always been a significant signal in the crypto market. Typically, institutional and large holder behaviors lead market reversals, while retail panic selling often occurs at market bottoms. Current on-chain data shows that there are over 55 million Bitcoin addresses holding coins, indicating that the number of BTC participants is still expanding.

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