- Tether’s wallet added $20M in BTC to Binance as part of a larger 1,650 BTC push since Bitcoin reclaimed $100K in early May.
- Whale wallets added over 300K BTC from June 2024 to May 2025, aligning with a 60 percent price surge and signaling strong accumulation.
- Bitcoin’s bounce from $100.8K and test of $106K shows bullish strength as whales continue steady accumulation above 3.5M BTC.
Tether Lending Collateral Custody wallet deposited another 200 BTC (worth $20.88 million) to Binance eight hours ago, according to Lookonchain. This marked the wallet’s 1,650 BTC ($174.7 million) deposit since Bitcoin reclaimed the $100,000 mark on May 9. Such repeated activity highlights increased institutional momentum. Notably, this aligns with a larger pattern of aggressive whale accumulation, pushing market sentiment further into bullish territory.
Moreover, whale holdings have steadily increased since June 2024. At that time, balances stood around 3.28 million BTC while Bitcoin traded near $67,000. By May 2025, those holdings surpassed 3.5 million BTC. This represented an increase of more over 300,000 Bitcoin in only a single year. Bitcoin prices increased by over 60% throughout this period, confirming the link between significant wallet accumulation and price increases.
Whale Behavior Signals Market Strength
Besides the growing institutional involvement, Coinvo data confirms a consistent uptrend. Whale holdings dipped slightly from July to September 2024, stabilizing near 3.2 million BTC as Bitcoin declined toward $60K. However, by October, both holdings and price began climbing again.
Source: Coinvo
In November, whales held over 3.3 million BTC, and Bitcoin broke past $75K. By December, accumulation intensified, pushing holdings over 3.4 million BTC while the price exceeded $90K. Despite brief corrections in early 2025, whale holdings remained firm, indicating long-term confidence.
Additionally, by April 2025, Bitcoin bounced back to $95K. In May, it shattered the $110K level as whale balances grew stronger. The consistent correlation between large wallet activity and price action has created a clear bullish pattern.
Technical Structure Shows Bullish Recovery
Daan Crypto Trades highlighted key technical levels in play. Bitcoin recently swept below $101,000 before bouncing near $100,814. This drop was short-lived and triggered a sharp recovery. Bitcoin now trades around $105,070 and is testing the $106K resistance zone again.
Source: Daan Crypto Trades
Furthermore, if bulls can reclaim the $106K–$107K range, momentum may push toward the all-time highs near $112K. However, failure to hold $100,814 could open the door to $97,803.9. Overall, the structure shows a pattern of accumulation, breakout, and recovery.
