Bitcoin’s ‘7-year’ high – Here’s what it means for traders like you!

Bitcoin’s cost basis revealed stark contrast between long-term holders and recent buyers
SOPR maintained 1.04 level as whale addresses accumulated through the $105K test

Bitcoin’s market structure has been noting a significant shift after whale addresses reached levels not seen since December 2017. The shift seems to be corresponding with the crypto’s price action testing the crucial resistance above $105,000.

This institutional positioning comes amid a clear divergence between long-term and short-term holder behavior. The trend also paints a compelling picture of market maturity.

Strategic Bitcoin whale positioning intensifies

At the time of writing, the number of addresses holding at least 100 Bitcoin had surged to 17,799 – Marking its second-highest level since December 2017. This milestone coincided with BTC’s latest push to $105,841.64 – A sign of strategic accumulation by institutional players.

Source: Santiment

Particularly noteworthy is the steep accumulation pattern that began in October 2024, when whale addresses numbered around 16,200 – Representing a nearly 10% hike in large-holder concentration over just three months.

The acceleration in whale accumulation during the November-December period notably corresponded with Bitcoin’s sustained break above the $90,000-level.