This week, Bitcoin reached a peak of $108,947, bringing it nearer to its record high from just last month of $112,000. The market remains excited—if that’s the word—as it looks forward to a possible breakout, stirred up by some new data that seems to show the major holders of our favorite cryptocurrency behaving differently and, in a couple of cases, taking profits. After three months of a large-wallet count that could be called dismal, we now have some accumulation trends that look promising. As both short- and long-term players adjust their strategies, Bitcoin arrives at a critical juncture that may well fix its next significant move. Whales and Sharks Return After Months of Decline After a period of steady decline, interest in whale and shark wallets may be coming back. In the last four weeks, the Bitcoin network has added 622 new wallets that hold 10 or more BTC. This is the first significant uptick in the growth of large wallets since early 2024, and it seems to be signaling a renewed interest in peak players accumulating not-too-distant previous highs. Bitcoin has surged as high as $108,947 with traders continuing to await another challenge of last month's $112,000 all-time high. Interestingly, after 3 months straight of declining whale & shark numbers, the $BTC network has 622 more 10+ $BTC wallets in just under 4 weeks. pic.twitter.com/NpKkC5zsj9 — Santiment (@santimentfeed) June 16, 2025 The 10+ BTC wallets are thought to be held by either experienced market participants or by those with considerable wealth who have held BTC for a long time. If any of these groups is returning to accumulation, it might point to what the next Bitcoin price might be. And if we are using the assumption that the price might be based on the price these groups might value Bitcoin at, then we might also use this assumption in thinking about what price these wallets might push the Bitcoin price to next. The market has accordingly responded. The price of Bitcoin keeps on testing the upper resistance, and if the accumulation continues, it could provide the supply shock necessary to push it past $112,000 and into new territory. BlackRock holds 1 in every 31 Bitcoin to ever exist Launched in January 2024, BlackRock’s iShares Bitcoin Trust ETF has accumulated 666,842 $BTC , accounting for 3.18% of the total supply. Here are some of the largest $BTC holders and how their balances compare to the total… pic.twitter.com/zdJ1lQhnwi — CryptoRank.io (@CryptoRank_io) June 16, 2025 Profit-Taking Rotates to Mid-Cycle Buyers In recent days, the behavior of profit-takers has undergone a striking change. For over 12 months, when we looked at who was realizing profits, we mostly saw long-term holders in the mix. However, this week brought a notable shift in that direction. Now, it seems to be dominated by short-term holders realizing profits. On June 16, holders of Bitcoin (BTC) for 6 to 12 months—mid-cycle holders—recorded $904 million in profits. This amount accounted for the second-highest daily realized gains we have seen this year. Unquestionably, the mid-cycle holders dominated the profit-taking we saw that day. In total, all holders with less than 12 months of coin age represented 83% of the day’s realized gains. Long-term holders, in contrast, realized just $324 million in profits on that same day, a steep decline from the $1.2 billion peak seen in late May. This shift indicates that newer market participants, especially those who entered the market in Q4 2024, are now actively distributing their positions. This mid-cycle market behavior has a common redistribution phase. As hands that are early to the market lock in their gains and step aside, more recent entrants tend to increase market influence and contribute to higher short-term volatility that makes the market judgment of value less reliable. These recent entrants, in turn, are trying to lock in their own market gains, which is pushing supply dynamics in the direction of broader shifts. BlackRock Now Controls 1 in Every 31 Bitcoin In the wake of retail profit-taking and changes in on-chain patterns, institutions are still building their Bitcoin stacks. BlackRock’s iShares Bitcoin Trust ETF has added 666,842 BTC since its January 2024 launch—3.18% of all Bitcoin in existence. One in every 31 BTC ever mined is now controlled by BlackRock. This figure has BlackRock at the top of the leaderboard as an institutional and governmental holder, surpassing even MicroStrategy’s much-publicized position of 582,000 BTC. The next competitors are holding: – United States government: 198,012 BTC – Fidelity: 196,264 BTC – China: 190,000 BTC BlackRock’s number is greater than all of these, though. Other significant holders are: Grayscale: 185,234 BTC Block.one (B1): 164,000 BTC Tether: 100,521 BTC United Kingdom: 61,245 BTC BitMEX: 52,020 BTC Institutional ownership is on the rise, reinforcing the notion that Bitcoin is increasingly being considered a macro asset. The supply of Bitcoin being absorbed by traditional financial firms continues apace. Their presence in the market tightens liquidity, making price discovery more sensitive to large inflows or outflows. Looking Ahead Bitcoin’s price momentum, together with whale reaccumulation and a shift in profit-taking among newer holders, signifies that the market is on the cusp of its next major move. The story of the last few months has been about how ETFs are bringing in not just retail, but institutional capital. And how big players like BlackRock are now amassing historic levels of BTC. This landscape is more than primed for further upside; it absolutely requires it as a logical next step. No matter if Bitcoin breaks past the $112,000 barrier or settles into its present range, one thing is beyond dispute: the market formation is shifting, and the forces altering it are larger, more deliberate, and more potent than ever. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
