New whales now account for 1/3 of Bitcoin’s whale realized cap as on-chain indicators point BTC’s target at $89,000

Why Whales' Movements Have Yet to Fully Reflect on Bitcoin's Price Action

New Bitcoin whales now control one-third (33%) of the BTC realized market capitalization held by whales, according to new data findings shared today by CryptoQuant analysts. Since September, the realized market cap of new Bitcoin whales has grown steadily, and new whales have significantly contributed to BTC price stability, according to the report. Despite the increase in new Bitcoin whales, the data revealed that old whales have remained largely unchanged.

New Bitcoin whales in the spotlight

According to the CryptoQuant data, the realized market cap of new Bitcoin whales is now $78.61 billion, while that of old whales currently stands at $159.15 billion. New BTC whales now account for 33.06% of the total Bitcoin realized market cap, up from 18% earlier in the year.

New Bitcoin whales, wallets holding more than 1,000 BTC with recent market activity, now account for 33% of the whale realized cap, according to the data. This rise from the 18% record noted earlier in 2026 indicates growth as increasing inflows of institutional and ETF capital redefine BTC ownership.

This rise in new whale holdings suggests fresh funds are entering the Bitcoin market, with their $77,000 cost basis recovering alongside BTC price. This indicates continued accumulation and appetite among large holders. The rising number of new whales signals inflows and a shift in control among major customers in the Bitcoin market. In comparison, older whale cohorts have been maintaining their positions, which have so far remained flat.  

Bitcoin now targets $89k

Another interesting development is Bitcoin’s recent price weakness, as noted by a GugaOnChain analyst. The asset currently trades at $81,615, down 1.5% in the last seven days, indicating a decline in performance. The analyst’s data shows the asset’s price action is consolidating. This suggests that after the recent strong run, BTC is currently finding its support at the $81,000 level.

This signals a potential accumulation phase, with buyers entering the market around the key support level while resistance holds steady. According to GugaOnChain, Bitcoin is showing strong bullish momentum, holding firm around the $81k level as buyers stay in control. The analyst noted that strong, continued buying pressure indicates renewed bullish momentum and a possible move toward a higher target around $89,000 soon.

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