Bitcoin: The number of whale wallets has reached 2106 and continues to grow, and the big buyers of BTC are back!

Bitcoin has experienced wild volatility over the past few months, struggling to maintain its upward momentum. This predicament stems primarily from the market’s growing pessimism about the state of the macro economy.

However, after four months of pessimism and bearishness, the market showed signs of a bullish return a few days ago for the first time.

According to Axel Adler, the Bitcoin Sentiment Voting for or against indicator turned green for the first time.

When it turns green, it indicates that most participants are optimistic and expect Bitcoin prices to rise. Therefore, social sentiment tends to be bullish and crowd psychology is shifting.

Whales Lead the Way

Interestingly, the change is most pronounced among large shareholders.

At the beginning of 2025, the number of wallets holding more than 1,000 BTC was 2,054. This number dropped to 2,038 as uncertainty grew.

However, whales have returned to the market over the past few days and are actively accumulating.

The returns have driven an increase in the number of addresses, which reached 2,106, the highest value in 2025.

The surge in the number of whale addresses suggests that whales are now more optimistic compared to market participants.

Of course, this rise indicates a growing confidence in the market. This is also confirmed by on-chain data - the whale exchange rate has remained negative for five consecutive days.

In addition to whales, other market participants have also become optimistic.

US institutional investors turned bullish for the first time in 17 days. The Coinbase Premium Index turned positive for the first time in more than two weeks.

This shift shows that even US investors now expect Bitcoin prices to rise.

What this means for BTC

The shift in market sentiment reflects the growing confidence in Bitcoin.

Therefore, most participants now expect the price to reclaim higher resistance levels. When the sentiment of whales, institutional investors, and retail investors shifts, it means that Bitcoin is now stable enough to be expected to rise again.

If the optimism continues, BTC may reclaim $86,190. A continued rise may open the door to $88,500. However, if the consolidation continues and whale investors turn to risk aversion, BTC could fall towards $81,616.

Regardless, the market is at a turning point. Now, market momentum depends on the follow-up of sentiment and the conviction of whales.