Bitcoin (BTC) Breakout Triggers a Fresh Wave of Whale Accumulation Across the Crypto Market

Bitcoin's breakout above the $105,000 mark earlier this week triggered a fresh wave of whale accumulation across the crypto market.

Bitcoin’s breakout above the $105,000 mark earlier this week triggered a fresh wave of whale accumulation across the crypto market. On-chain data shows that several altcoins are drawing significant interest from large holders.

This activity is reflected by an uptick in the altcoins’ large holders netflow, which measures the total amount of tokens entering and exiting wallets classified as large holders—those who control more than 0.1% of an asset’s circulating supply.

When this metric rallies, it indicates that significant amounts of the asset are moving into the possession of these investors, signaling strong buying interest. Conversely, a falling netflow indicates that large holders are selling their token holdings.

As seen in the chart above, the large holders netflow for RNDR has soared over the past seven days, specifically surging 140%. This indicates that these large investors are accumulating LINK rapidly.

At present, the metric stands at 250,000 RNDR tokens, valued at approximately $1.22 million at current market prices.

This growing accumulation trend among whales may prompt retail traders to follow suit, as increased buying activity from large investors often signals confidence in the asset’s potential.

Moreover, historical data indicates that whale-driven momentum usually attracts broader market participation, which could drive RNDR’s price up in the near term.

If accumulation persists, the altcoin could rally to $6.09. Converesly, if demand falls, RENDER could breach support at $4.72, and plunge toward $4.18.

ONDO

This week, real-world asset (RWA) token ONDO has seen increased whale attention. According to Santiment, whale addresses that hold between 10,000 and 100,000 tokens have collectively acquired 2.63 million ONDO over the past seven days.

Currently, this cohort of ONDO whales holds 143.94 million tokens. The token trades at $0.99 at press time, noting a 3% price gain amid the broader market rally over the past 24 hours.

If whale activity strengthens, ONDO could reclaim the $1.00 level in the near term. In this case, the altcoin could rally toward $1.23.

However, if the whales stall or sell for profit, ONDO could lose its recent gains and plummet to $0.92.

Optimism (OP)

Layer-2 (L2) token OP is another asset with a surging whale accumulation this week. This is reflected by an uptick in the altcoin’s large holders’ netflow, which has rocketed over 140% in the past seven days, according to IntoTheBlock.

When this metric rallies, it indicates that significant amounts of the asset are moving into the possession of these investors, signaling strong buying interest. A rising netflow often precedes price appreciation, hence OP’s price could climb to $1.08.

On the other hand, if selloffs resume, OP’s value could dip to $0.54.