Bitcoin Whales Keep Buying Despite BTC’s Price Struggles

Since October 1, 40 newly created cryptocurrency addresses have withdrawn 9,458 bitcoin, worth about $771.5 million, through Wintermute, according to on-chain data from Lookonchain. The withdrawals came as large holders known as whales kept accumulating despite weak bitcoin price movement. CryptoQuant research from mid-October said whales had resumed buying after months of selling during bitcoin's recovery from below $62,000 in early August to $87,000 in September, when large wallets held just over 3 million bitcoin, the highest combined balance since November 21, 2025. A separate report said such holders bought nearly 89,000 bitcoin in one month. Bitcoin was rejected at $87,000, fell below $80,000, rebounded to $85,000, then dropped more than $3,000 in 36 hours to below $82,000.