Bitcoin whale activity has seen one of the highest weekly transaction spikes this year as BTC prices plunge below $90,000, according to market intelligence platform Santiment.
Santiment reported that the increase in whale activity has been in line with the market price decline, with data as of Wednesday showing over 102,000 transactions above $100,000 and an additional 29,000 transactions worth over $1 million.
Bitcoin fell below $90,000 this week for the first time in seven months before trading back around $92,793.
According to Santiment, this week could be the most active week for whales in 2025, with the pattern now starting to shift from a sell-off phase to a regrouping phase.
There has been speculation that selling activity by large holders is contributing to the selling pressure in the crypto market. However, data from Glassnode shows a different trend, with whales adding to their holdings since late October.
A significant spike in the number of wallets holding over 1,000 BTC was first detected last Friday.
Swyftx analyst Pav Hundal, speaking to Cointelegraph, explained that the increase in Whale activity over the past year was also influenced by the news cycle, including geopolitical developments in the US that triggered large-scale transactions.
According to him, despite the significant fear sentiment among retail investors, large holders continued to increase their holdings by buying at discounts that panicked investors sold.
