Recent Bitcoin price fluctuations between approximately $110,000 and $117,000 have revealed a divergence in holder behavior, with small and large wallet cohorts accumulating while mid-sized holders show uncertainty. Current price levels remain below $113,000 amid these shifting dynamics.
Data indicates notable accumulation among wallets holding less than 1 BTC—typically retail investors—alongside those holding over 10,000 BTC, referred to as ‘whales’. This buying activity correlates with Bitcoin’s pullback, suggesting both ends of the holder spectrum see value at current prices.
Meanwhile, holders in the 1-100 BTC range—often considered mid-tier participants—display inconsistent on-chain behavior. These wallets have neither uniformly accumulated nor distributed holdings during the dip, indicating potential indecisiveness or reduced confidence relative to other holder groups.
The Trend Accumulation Score corroborates recent accumulation patterns, emphasizing heightened buying activity from both retail-scale and institutional-scale investors. Supporting this trend, Glassnode metrics reveal a sharp increase in wallet transaction activity over the past 15 days, with movement concentrated following the recent price decline.