At a Glance
- Whale wallets added 32,693 BTC since January 10
- Shrimp wallets dumped 149 BTC in the same window
- Social sentiment flipped to its most bearish in 10 days
- Why it matters: Classic contrarian setup that historically precedes major rallies
Bitcoin punched to $97,800 on Wednesday, extending its weekly climb to nearly 8%, while on-chain data revealed a stark divide: the biggest wallets are buying and the smallest are selling.
According to fresh data from Santiment, wallets holding between 10 and 10,000 BTC-so-called whales and sharks-have accumulated a net 32,693 Bitcoin since January 10. That haul lifts their combined balance by 0.24% and marks the fastest pace of whale stacking in about two months.
The picture flips for shrimp wallets, those holding less than 0.01 BTC. This cohort has collectively shed 149 BTC over the identical period, trimming their aggregate holdings by 0.30%. The divergence highlights a market where conviction rises with wallet size.
Santiment called the dynamic “the ideal setup for a bull run,” adding that the rally’s duration hinges on “how long retail traders continue to doubt the emerging mini rally.”
Derivatives Turn Risk-On
Bitcoin futures are flashing bullish signals for the first time since October. Analyst Axel Adler Jr. noted that the Bitcoin Positioning Index jumped to 3.5 this week, its first breach above the key 3 level in three months. The index tracks open interest, funding rates, and long-short ratios; the steady climb suggests positions are building methodically rather than spiking in a leveraged rush.
Social Sentiment Nears Weekly Low
Despite price strength, social-media sentiment has soured. Negative commentary on Bitcoin hit its highest level in 10 days, according to Santiment. Historically, such fear, uncertainty, and doubt (FUD) has aligned with upward price moves, as markets often move counter to retail mood. The analytics firm says the surge in FUD raises the odds of Bitcoin revisiting $100,000 for the first time since November 13.
Key Takeaways
- Whale accumulation accelerated to a two-month high
- Retail selling and bearish social sentiment create contrarian backdrop
- Futures positioning flipped bullish for the first time since October
- $100,000 re-test is back on the radar if the pattern holds
The data underscores a classic crypto divide: large holders add exposure while smaller wallets lock in minor profits or cut losses, and the crowd turns pessimistic at the very moment technical and derivatives gauges align to the upside.
