Bitcoin traded around $71,000 as the market’s fear gauge remained in extreme territory, while the largest holders quietly increased their activity. Santiment noted that wallets holding between 10 and 10,000 BTC raised their share of the total supply to 68% last week, up from seven days prior. Bitcoin was near $71,470, up roughly 6% from the prior week, suggesting the price level around $71,000 may have been an entry point for large investors.
Just over a week earlier, whale activity had consisted of a mass exit, with large wallets offloading about 65% of their Bitcoin accumulated between February 23 and March 3 as Bitcoin briefly touched $74,000. Santiment described the renewed accumulation by large holders as encouraging but cautioned that the full picture remains unclear. Analysts note that the market’s next move will depend on whether retail participants, with smaller wallets, begin trimming their holdings.
Bitcoin ETF inflows offered a counterpoint to the bears, with US spot Bitcoin ETFs recording their first five-day inflow streak of 2026, totaling about $767 million. If retail participation stays elevated or rises, some analysts say there could be more downside rather than a quick recovery, even as whale accumulation persists. Santiment added that a typical pattern would see small wallets decline while large wallets rise, signaling coins moving from uncertain hands to more committed ones, and that the current shift has begun.
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