Analysis: As Bitcoin experiences a 30% pullback, the "Whale Address" is accumulating at the fastest pace in 13 years

December 16th — According to a Cointelegraph report, Bitcoin has retraced roughly 30% from its ~$126,000 all-time high and is hovering around the key $85,000 support level. On-chain data shows mid-sized holders and some institutional funds are ramping up accumulation. Glassnode figures indicate addresses holding 100–1,000 BTC (often called mid-tier whales) accumulated ~54,000 BTC over the past week. Their total holdings rose from ~3.521 million BTC to 3.575 million BTC — a pace of accumulation not seen since 2012, signaling clear bottom-fishing amid the sharp pullback. Still, upside potential remains capped by selling pressure from larger holders. Data shows long-term and “OG” whales (holding 10,000+ BTC) have steadily reduced positions over the past two months. Capriole Investments founder Charles Edwards noted record institutional buying is being absorbed by long-term holders at a rate unseen in years — a dynamic that could keep suppressing Bitcoin’s price action short-term. Veteran trader Peter Brandt also warned Bitcoin has broken below a key parabolic support level. If historical patterns repeat, there’s risk of a deeper retracement.