Bitcoin (BTC) Traders Resolve to Passive HODLing, Dormant BTC Whale Accounts on Rise

Published by
Bitcoin (BTC) Traders Resolve to Passive HODLing, Dormant BTC Whale Accounts on Rise

While Ethereum (ETH) has hit a new all-time high of $1439 on Tuesday, January 19, Bitcoin (BTC) seems to be strongly consolidating in the range between $35,000-$36,000. Although Bitcoin faces a strong resistance currently around $38,000, on the support side, it is holding well above $35,000.

Recent data suggest that HODLing Bitcoin is turning popular once again amid the recent price consolidation. As per popular on-chain data provider Santiment, dormant Bitcoins had started moving when the price surged above $40,000. However, after the recent correction and consolidation, these coins have once again started being dormant.

This shows that HODLers are not willing to liquidate yet! Instead, they have now smart moved from profit-booking to HODLing. On the other hand, while Bitcoin (BTC) price polarization continues among traders, BTC’s address activity and trading volumes still continue to remain high.

The Surge In BTC Whale Accounts

As per information from on-chain data provider Glassnode, the total number of Bitcoin (BTC) addresses holding more than 1000 BTC has hit a new all-time high. The total number of Bitcoin addresses with more than 1000 BTC balance has surged past 2400 of which 164 addresses i.e. over 5% have been added so far in 2021.

Also, despite the recent consolidation, institutions seem to be silently accumulating more Bitcoins. Over the last week, the Grayscale Bitcoin Trust (GBTC) accumulated more than 25,000 Bitcoins (BTC) pouring nearly $900 million into the world’s largest cryptocurrency. This happened just at the time when Grayscale raised $700 million in funds in a single day on January 15.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025
  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025