Bitcoin’s largest holders are rebuilding positions after months of selling, while the price tries to recover from a sharp pullback. Santiment data shows whale addresses holding more than 1,000 BTC now control 7.17 million BTC, the highest level since March 14. That total equals nearly 36% of Bitcoin’s circulating supply and comes as the market watches key support levels closely.
The latest on-chain data points to a strong rebound in whale balances. Santiment reports 2,044 network addresses now hold more than 1,000 BTC each. Together, these wallets control a larger share of supply than they did during the recent drawdown.
The buildup follows a period when whales steadily reduced inventory and passed coins into smaller retail investors. That trend now appears to have reversed. In the current phase, whale holdings have returned to the 7.17 million BTC mark after a multi-month decline.
This rise in whale supply has taken shape during a period of weaker spot prices. Bitcoin recently fell toward the low $60,000 range, and the accumulation window matched the market’s deepest liquidity stress. The shift suggests that large holders moved during the correction rather than after it.
Bitcoin has also started a short-term technical repair after rebounding from the $59,100 area. The one-week move has added about 5%, providing a brief recovery for the market after a steep drop. Even so, the broader trend still shows heavy damage across several time frames.
Over the past month, Bitcoin has remained down about 16%. Over six months and year-to-date, it is down roughly 27%. Over one year, the loss stands near 39%. Those figures keep the recovery from looking like a full trend reversal.
The key level remains $61,775, which traders view as a point of control. Bitcoin also needs to defend the $63,200 to $63,850 zone. If it loses that area, the current repair could weaken quickly.
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The broader market backdrop has also turned less stable. US stocks fell after a more hawkish Federal Reserve policy signal, which pushed markets toward expectations of tighter liquidity and higher-for-longer interest rates. That shift has increased pressure across risk assets.
The market also points to a Federal Reserve framework overhaul and the market reaction around Chair Kevin Warsh. That move left traders with more uncertainty around forward guidance and liquidity conditions. As a result, active traders have been forced to reassess exposure across markets.
For Bitcoin, the current focus remains on price structure. Traders are watching whether the rebound can extend beyond resistance and hold above support. Whale accumulation, the recent bounce, and the macro backdrop now sit at the center of the next move.
Bitcoin whales have raised holdings to 7.17 million BTC while price action remains fragile near key support levels. The rebound from $59,100 has helped short-term sentiment, but traders are still watching $63,200 to $63,850 and $61,775 for confirmation of strength.