Santiment: Whale and Shark Addresses Add 61,000 BTC

Hours

Whale and shark Bitcoin addresses holding between 10 and 10,000 BTC collectively accumulated 61,568 BTC over the past month, according to on-chain analytics firm Santiment. The accumulation, representing a 0.45% increase in holdings for that cohort, comes while the broader market sits deep in fear territory.

Santiment Tracked 61,568 BTC Flowing Into Large-Holder Wallets

Santiment posted on March 26 that addresses classified as whales and sharks, those holding between 10 and 10,000 BTC, added 61,568 BTC over the prior 30 days. That volume amounts to a 0.45% increase in the total holdings of that address cohort.

CryptoQuant exchange reserve chart for Santiment: Whale and shark addresses have collectively added over 61,000 Bitcoins in the past month.
CryptoQuant metrics view used to back the on-chain section for bitcoin.

By contrast, wallets holding under 0.01 BTC added just 213 BTC over the same period, a 0.42% increase for that smaller cohort. The gap between large-holder and small-holder accumulation rates underscores the scale at which bigger addresses were building positions.

Source: @santimentfeed on X

Santiment described the accumulation as “a promising sign of an eventual breakout from this range,” though that remains a forward-looking interpretation rather than a confirmed outcome. The firm has suggested that similar patterns have historically preceded bull cycles, but that claim has not been independently verified in this context.

Large-Holder Buying Meets Extreme Fear Sentiment

The accumulation is notable given the current market mood. The Fear & Greed Index sat at 8, labeled Extreme Fear, as of April 1, 2026. That reading places sentiment near the bottom of its scale, reflecting broad caution among market participants.

Bitcoin traded at $69,016 with a market capitalization of roughly $1.38 trillion and 24-hour trading volume near $58.9 billion. The price had gained approximately 2.5% over the prior 24 hours despite the fearful backdrop.

Large-holder accumulation during periods of depressed sentiment is widely tracked as an on-chain positioning signal. The logic is straightforward: when addresses controlling significant capital add exposure while retail sentiment is weak, it can indicate conviction among more capitalized participants. Recent BTC whale movements worth $74 million have shown a similar pattern of large-holder activity in recent weeks.

That said, address-level accumulation data is one indicator among many. It does not account for the identity behind wallets, the purpose of transfers, or whether coins moved between addresses owned by the same entity. Institutional interest in crypto continues to grow, as highlighted by Kraken’s SPAC pursuit of a deal valued up to $10 billion, but on-chain data alone cannot confirm buyer intent.

Two Key Takeaways From the 61,568 BTC Accumulation

The story distills into two points for readers watching Bitcoin’s on-chain health.

  • Whale and shark addresses are building positions: The 61,568 BTC added over one month by the 10-to-10,000 BTC cohort represents meaningful accumulation at a time when geopolitical and regulatory uncertainty continues to weigh on market confidence.
  • Sentiment and accumulation are diverging: An Extreme Fear reading of 8 on the Fear & Greed Index contrasts with the steady buying by larger addresses, a split that on-chain analysts often flag as a potential inflection signal for Bitcoin specifically.

Whether that divergence resolves in favor of the accumulators or the fearful majority will depend on factors well beyond wallet data, including macroeconomic shifts and broader risk appetite. For now, the on-chain record shows that Bitcoin’s larger holders spent the past month buying.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.

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