Cryptocurrency holders have accumulated more than $ 4.1 billion worth of bitcoin in just one month

Major bitcoin holders increased their holdings by more than 61,000 coins in March amid the escalating conflict in the Middle East and macroeconomic uncertainty. According to the analytical company Santiment, the so-called «whales» and «sharks» — wallets with a balance of 10 to 10,000 BTC — increased their assets by 0.45%. At the same time, small wallets with less than 0.01 BTC added another 213 coins, or 0.42%.

Analysts note that this data confirms the trend of bitcoin outflows from exchanges that lasted throughout March. This indicates the accumulation of assets rather than the intention to sell them. Santiment believes that this behavior of large players can be an «encouraging signal» for the upcoming breakout of the rate from the current range.

«It is ideal when big wallets accumulate and retail investors sell. Historically, this has been a reliable signal of the beginning of bullish cycles,» analysts say. At the same time, some large holders are acting more cautiously: on March 19, two «whales» transferred tens of millions of dollars to the stock exchange after the exchange rate fell and energy prices spiked due to attacks on oil and gas infrastructure in the Persian Gulf.

According to Zeus Research analyst Dominic John, those investors who have been quietly accumulating BTC during the consolidation are preparing for the next breakout. «The whales are buying up bitcoin, positioning themselves ahead of possible growth. Small wallets are acting under the influence of FOMO, trying not to miss the next stage of the rise,» he explained.

Despite the activity of major players, investor sentiment remains depressed. On March 27, the Fear and Greed Index for cryptocurrencies showed only 13 points, which corresponds to the «extreme fear» zone. Last week, the index dropped to 10, and the average values for February also remained at the «extreme fear» level. This indicates deep uncertainty in the market, despite signs of accumulation on the part of large holders.