The lackluster worth actions over the previous few weeks have failed to discourage sure giant market contributors, sometimes called whales, from accumulating substantial parts of BTC.
Current on-chain information from Lookonchain indicated that 40 newly created addresses have withdrawn over $770 million price of the first cryptocurrency since October 1 alone. These withdrawals had been accomplished via Wintermute.
Whales are accumulating $BTC!
Since Oct 1, 40 newly created wallets have withdrawn 9,458 $BTC ($771.5M) from #Wintermute.
https://t.co/AR7qxcyoiU https://t.co/TfzSTKz7UF
— Lookonchain (@lookonchain) October 23, 2026
The most recent report builds on earlier ones, resembling CryptoQuant’s mid-month analysis. It acknowledged that whales have resumed accumulation after months of promoting, and the shift got here amid the underlying asset’s main worth restoration from beneath $62,000 in early August to $87,000 in September.
The info on the time mentioned that these giant wallets held simply over three million BTC, which was the very best mixed steadiness since November 21, 2025. One other report from earlier this week claimed that these giant market contributors had bought virtually 89,000 BTC in only one month.
Bitcoin’s worth actions, although, have been fairly unimpressive up to now few weeks. Regardless of expectations for Uptober, the asset was rejected at $87,000 on a few events and ultimately dipped under $80,000.
Its rebound took it to $85,000 earlier this week, the place the shortly deteriorating macro panorama served as one other hurdle on its path ahead. Within the following 36 hours, the cryptocurrency crashed by over $3,000 and now sits under $82,000.
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