Previous surges in Bitcoin accumulation have historically been followed by powerful price rallies. Similar patterns in the past preceded gains of roughly 900% in 2012 and about 350% in 2011, highlighting the potential significance of current on-chain trends.
Bitcoin is currently trading around $86,000, down nearly 30% from its recent peak near $126,200. Prices remain just above the key $85,000 support level, raising concerns that a deeper correction toward the $70,000 zone could unfold. Despite this pullback, on-chain data suggests that institutional investors and high-net-worth individuals are steadily accumulating Bitcoin.
Bitcoin sharks accumulate at fastest pace since 2012
Data shows that so-called Bitcoin “sharks” — wallets holding between 100 and 1,000 BTC — have been aggressively adding to their positions. Over the past week alone, these mid-sized holders increased their combined balances by approximately 54,000 BTC.
According to Glassnode, total holdings among this group rose to around 3.575 million BTC from roughly 3.521 million BTC. This marks the fastest pace of accumulation by sharks since 2012, signaling strong conviction among wealthier investors despite Bitcoin’s recent decline.
A similar accumulation surge in 2012 preceded one of Bitcoin’s earliest major bull runs, when prices climbed from around $10 to above $100 within a year. A comparable pattern was also seen in 2011, when aggressive buying by mid-sized holders followed a rally that pushed Bitcoin from below $3 to over $14.
If history were to repeat, this accumulation trend could favor further upside over the longer term.
Long-term holders continue to weigh on price
While shark accumulation has been strong, selling pressure from long-term holders remains a key headwind. Wallets holding more than 10,000 BTC have been the primary source of selling over the past two months, limiting Bitcoin’s near-term recovery.
Capriole Investments founder Charles Edwards noted that record levels of institutional buying are being offset by equally aggressive distribution from older holders. He highlighted that institutional inflows have reached extreme levels, while long-term holders are selling at rates not seen in years.
This imbalance suggests that Bitcoin’s price may remain capped until selling from long-held coins begins to ease.
Adding to downside risks, veteran trader Peter Brandt pointed out that Bitcoin has recently broken below a key parabolic support level. Historically, similar technical breakdowns have preceded deep corrections of up to 80%. If this pattern were to repeat, Bitcoin could potentially fall as low as the $25,000 area.
