After Trump’s Inauguration, Bitcoin Whales Show Signs of ‘Accumulation Phase,’ Says CryptoQuant.

Large bitcoin (BTC) holders, commonly referred to as “whales,” have increased their accumulation of the cryptocurrency following a brief period of profit-taking earlier in January, as revealed by CryptoQuant data.

The growth in bitcoin holdings by these major investors has accelerated from -0.25% on January 14 to +2% on January 17, marking the highest monthly growth rate since mid-December. This rise follows the inauguration of President Donald Trump, with traders speculating that his pro-crypto policies and plans to create a strategic bitcoin reserve could lead to an influx of institutional capital.

Whales play a crucial role in driving demand and influencing BTC’s price. Notable recent buyers include Bitcoin-focused company MicroStrategy and energy management systems provider KULR. As a result, the selling pressure on bitcoin has significantly decreased, particularly after the asset’s price surged close to $100,000 in December, with daily profits reaching as much as $10 billion.

Since September, long-term holders have sold more than 1 million BTC, but this trend now appears to have stabilized, according to CoinDesk’s analysis. Meanwhile, unrealized profit margins for traders are nearing zero, which often acts as a price floor in bull markets, suggesting a possible foundation for the next major move in the market.

However, retail demand for bitcoin seems to be cooling, as CryptoQuant reports a decline in the rate of apparent demand. While demand remains in “expansion territory,” it has dropped from 279K BTC in early December 2024 to 75K BTC currently. CryptoQuant notes that for a significant rally to occur, demand growth must accelerate once again.