Bitcoin Shark and Whale Wallet Count Jumps Amid Bearish Market

The latest on-chain data from Santiment reveals an interesting trend among Bitcoin investors. Despite the cryptocurrency's price decline over the last three months, the number of 'sharks' and 'whales' – investors holding 100+ BTC – has increased by 3.9%. This notable surge indicates a shift in sentiment among large investors.

The data shows that since December 19th, 753 new addresses have been added to the 'shark' and 'whale' category, bringing the total count to a new high. This increase is particularly significant given the market's overall downtrend during this period. According to Santiment, this trend suggests a bullish divergence in on-chain data.

Notably, this surge in 'shark' and 'whale' wallets occurred while Bitcoin's spot price was experiencing a decline. Typically, large investors would pull back during market downturns, but it appears that many chose to hold onto their assets instead. This trend is further supported by the fact that the indicator has also climbed on the yearly scale, with a 12% increase compared to March 19th, 2025.