- Large Bitcoin holders increased by 136,670 BTC since March 2025.
- Wallets holding at least 1 BTC dropped 2.2%.
- Long-term whale holdings remain stable amid market shifts.
Wallets holding at least 1 BTC have decreased by 2.2% since March 2025, but those with more than 1 BTC accumulated 136,670 additional coins, highlighting whale activity.
This trend suggests a shift in market dynamics, with larger holders consolidating their positions as smaller holders decrease.
Recent data highlights a notable shift in Bitcoin holdings. Wallets holding at least 1 BTC decreased by 2.2% since March 3, 2025. Meanwhile, larger holders showed stronger accumulation, acquiring an additional 136,670 coins over the same period.
VanEck Digital Assets Research Director, Matthew Sigel, reported these findings in the Mid-November 2025 Bitcoin ChainCheck report. His analysis reveals a robust uptake by larger cohorts despite smaller holder contractions. MicroStrategy’s executives hint at shifts impacting market strategies.
The market exhibited uneven dynamics, with large whale cohorts maintaining or increasing their holdings. Concentration among whale cohorts was evident, while smaller holders experienced reduced exposure. Long-term holders’ behavior paralleled previous market cycles.
MicroStrategy’s strategic comments included potential Bitcoin sales and acquisition hints. Factors influencing these trends include economic uncertainties and major selloffs. “There have been several catalysts, but it seems as if the biggest drivers are long-term selling by ‘OGs’, an uncertain economic climate, and a mass deleveraging event on the 10th October.” — Matthew Sigel
With a drop in wallet holdings <1 BTC, larger holders’ accumulation gained focus. Hunter Horsley, CEO of Bitwise, remarked on the ongoing masked bear market impacting 2025. Mid-cycle traders demonstrated selling behaviors affecting short-term Dynamics.
The potential outcomes of these shifts include changes in financial strategies, intensified regulatory scrutiny, and technological adaptations. Historically, long-term whale presence suggests a tendency towards stability and growth, despite periodic market disturbances.
