Bitcoin Whales Buy $770M in BTC Despite Price Slump

Why Are Bitcoin Whales Buying the Dip?

If you have been watching the crypto market lately, you might have noticed Bitcoin struggling to build upward momentum.

Despite these sluggish price movements, crypto's largest investors—often called whales—are quietly buying up massive amounts of Bitcoin (BTCBTC+0.28%).

In the crypto world, a whale is simply an individual or institution that holds thousands of coins. When they make big moves, retail traders often pay close attention.

Lookonchain Data: $770M+ Withdrawn from Wintermute

Fresh on-chain tracking data from analytics platform Lookonchain highlights a significant buying spree by newly created wallets.

Since October 1 alone, 40 brand-new wallet addresses withdrew 9,458 BTC from algorithmic trading firm Wintermute.

At current market values, that withdrawal amounts to over $770 million (specifically around $771.5 million).

Whales are accumulating $BTC! Since Oct 1, 40 newly created wallets have withdrawn 9,458 $BTC ($771.5M) from Wintermute.

Moving large crypto amounts off trading platforms into private wallets usually indicates a plan to hold assets long-term rather than sell them immediately.

CryptoQuant Confirms Whales Are Accumulating Again

This latest data aligns with a mid-month research report from CryptoQuant, another well-known crypto research team.

CryptoQuant pointed out that whales switched back to accumulation mode after several months of heavy selling.

This shift occurred while Bitcoin was recovering from under $62,000 in early August up to $87,000 in September.

At that point, these large whale wallets held a combined total of just over 3 million BTC. That marked their highest collective balance since November 21, 2025.

Another industry report published earlier this week supported these findings, stating that large market participants purchased nearly 89,000 BTC in a single month.

Bitcoin's Price Rollercoaster and Macro Headwinds

While big wallets continue to grow, Bitcoin's actual spot price has experienced a bumpy ride over recent weeks.

Many traders expected a strong rally during 'Uptober'—a historically positive month for crypto. However, several price hurdles got in the way:

• Rejection at $87,000: Bitcoin attempted to push past $87,000 twice, but encountered heavy selling resistance both times.
• Dipped under $80,000: After the rejection, the price slid down below the $80,000 mark.
• Brief rebound to $85,000: Buyers stepped in to push prices back up toward $85,000 earlier this week.
• Macro pullbacks: Deteriorating macroeconomic conditions quickly created another obstacle for the asset.

Over the course of 36 hours following that rebound, Bitcoin dropped by more than $3,000 and currently trades under $82,000.

What This Whale Buying Means for Everyday Investors

When institutional buyers and whales accumulate during market dips, it shows that deep-pocketed players are building long-term positions.

While strong accumulation from whales can signal institutional confidence, crypto markets remain subject to rapid price shifts based on macroeconomic news and market liquidity.

To stay updated on real-time prices and market movements, feel free to monitor the Bitkub BTC Market.

Past performance of digital assets is not an indicator of future returns. Digital asset trading involves high market risk.