While the market remains immersed in a pessimistic atmosphere, with Bitcoin retreating nearly 40% from its October high last year, on-chain data has captured a powerful countercurrent from the deep sea. Over the past week, large whales have bought approximately 53,000 Bitcoin against the trend, totaling over $4 billion. Meanwhile, the “hot capital share” indicator has fallen below a key support level, signaling a complete clearing of the speculative bubble. Is this battle of chips between big players and retail investors a sign of a strong bottoming process, or merely a temporary stopgap to prevent a crash?
Whale Accumulation Against the Trend, Over $4 Billion Invested in a Week
According to Glassnode data, wallets holding more than 1,000 Bitcoin, known as “whales,” have ended months of reduction and accumulated about 53,000 Bitcoin in the past week. This strong buying force played a crucial support role when Bitcoin tested the $60,000 level, successfully preventing further price decline. This is the largest single-week accumulation since November last year. Analysts point out that this buy-up led by large holders, while stabilizing market confidence in the short term, may not be enough to push prices back to all-time highs without broader capital follow-through, as it relies solely on existing funds.
Hot Capital Share Falls Below Lower Boundary, Signaling Significant Decline of the Speculative Bubble
Examining the latest Hot Capital Share chart, the indicator has fallen below the critical zone marked by the red dashed line, with a value dropping to 33.59. This technical signal clearly indicates that short-term speculative capital is accelerating its exit, showing signs of retail investor capitulation. The downward trend of the blue line suggests the market is undergoing a thorough chip cleansing, with floating chips significantly reduced. As hot money recedes, the market structure shifts toward a “cooling period” dominated by long-term holders, implying that short-term price volatility risks will decrease substantially, but also that the momentum driving rapid surges has temporarily faded.
Lack of Incremental Capital Support, Macro Catalysts Needed for Future
Despite large holders actively defending the market, the challenge remains: “Who will take over?” Many investors entering via ETFs are currently at a loss and reluctant to add positions; publicly listed companies that previously incorporated Bitcoin into their balance sheets have also slowed their purchases due to stock price pressures. The current market rebound lacks broad participation, and relying solely on whale defensive buying is unlikely to sustain a continuous upward trend. Investors should closely monitor Federal Reserve policies or new regulatory developments. Only with new macro liquidity injections can ETF funds be reactivated, breaking the current price deadlock.
This article, “Whale Returns? Strong Weekly Accumulation of 53,000 BTC, Bitcoin Chip Battles in the Wake of Hot Money Retreat,” first appeared on Chain News ABMedia.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The Ethereum Foundation re-staked $46.64 million in ETH, bringing the total amount staked to $96.59 million
Gate News announcement: April 3, according to blockchain data analytics platform Arkham, the Ethereum Foundation has again staked approximately $46.64 million worth of ETH. As of now, the Ethereum Foundation’s total amount staked cumulatively has reached $96.59 million.
GateNews8m ago
Bitcoin drops to the $66,000 warning line: a $600 billion unrealized loss weighs heavily, and key support may determine the trend
Bitcoin’s price has remained sluggish, currently hovering around $66,000, with a nearly 6% decline over the past week. On-chain data shows that unrealized losses among holders are close to $60 billion, and market risk is increasing. The macroeconomic environment is unfavorable; institutional capital is returning slowly. Technical analysis indicates that the key resistance level is $71,500 and the support level is $64,000. Large holders are increasing their selling, strengthening the market’s cautious sentiment. Going forward, price action will depend on capital returning and the market sentiment improving.
GateNews1h ago
Riot sold 3,778 bitcoins in the first quarter, cashing out nearly $300 million, with its holdings down 18% year over year
Bitcoin miner Riot Platforms sold 3,778 BTC in the first quarter of 2026, raising nearly $290 million in cash and reducing its holdings by about 18%. Several mining companies have cut their positions as well, reflecting rising funding pressure. Despite weakening market demand, some institutions are still accumulating Bitcoin, indicating that demand is concentrating toward participants with stronger financial capacity. In the short term, the price trend will be influenced by the clash between supply and demand.
GateNews1h ago
XPL dumps after a surge and then instantly crashes by 40%; the top five insider addresses arbitrage $1.6 million
On April 3, the XPL token price saw extreme volatility within a short period, seemingly due to manual manipulation. Five addresses opened high-leverage long positions on Hyperliquid at the same time, and ultimately, after realizing profits of about $1.602 million, they quickly closed their positions. Afterwards, the price plunged, and the accumulated losses of the short positions liquidated by forced selling exceeded $32.99 million. The market showed an overbought warning, and there may be a risk of a pullback in the future.
MarketWhisper1h ago
Drift attack escalation: 20 protocols affected, whale JUP urgently stops losses with an empty position
Drift decentralized exchange protocol recently issued an announcement, identified important information related to the attack, and sent on-chain messages to affected Ethereum wallets, urging the attacker to communicate. The number of affected protocols increased to 20, with total losses exceeding $28 million. The market has speculated that the stolen funds may flow out through the Jupiter protocol, causing JUP to briefly fluctuate. Drift said it will continue to provide updates on developments.
MarketWhisper1h ago
Ethereum stablecoin market share fell from 90% to 65%, while the number of independent senders rose to 12,000
Based on the latest data, Ethereum’s market share in non-USD stablecoins has fallen from 90% in 2023 to 65% as of February 2026, while other blockchains have rapidly risen. Despite this, Ethereum still remains the primary stablecoin issuing chain, and the number of unique senders has increased significantly.
GateNews2h ago
