Bitcoin Whales Buy Big as Gold and Silver Surge and BTC Stalls in a Tight Range

Bitcoin’s largest holders ramped up accumulation in late 2025, even as gold and silver outperformed Bitcoin over the past six months. Meanwhile, BTC stayed stuck in a narrow $85,000 to $92,000 band after a sharp drop from above $110,000.

On chain data shows large Bitcoin holders boosted balances in late 2025

On-chain data from Glassnode showed a sharp jump in net buying by entities holding 100 BTC to 1,000 BTC, a cohort often tracked as “sharks.” The move came as Bitcoin’s price stayed near cycle highs, while the group’s total supply line climbed to a new peak on the chart.

A post from “That Martini Guy” claimed “whales” accumulated about $23.5 billion worth of Bitcoin over recent weeks and called it the fastest pace since 2012. The Glassnode chart does show one of the strongest positive spikes in the cohort’s net position change in years, alongside a steep rise in the amount of BTC held by these addresses.

Still, the chart tracks a specific bracket, not every whale sized wallet, and the dollar figure depends on the price used for the estimate. In addition, on-chain cohorts can shift when exchanges reshuffle wallets, when custody providers consolidate addresses, or when entities get re labeled over time. Even so, the late 2025 surge signals renewed demand from larger holders, and it points to aggressive accumulation rather than steady distribution in that period.

Precious metals surge as Bitcoin lags over six month window

Meanwhile, Gold and Silver posted strong gains over the past six months, while Bitcoin moved in the opposite direction, according to the price comparison data. Gold rose about 38 percent over the period, and silver more than doubled, climbing roughly 107 percent. By contrast, Bitcoin fell about 17 percent, despite holding a market capitalization near $1.8 trillion.

Price Comparison BTC Gold Silver 6 Month. Source: CoinCodex

The chart shows a clear divergence that developed from late summer into year end. Gold advanced steadily, with limited pullbacks, reflecting sustained demand. Silver accelerated even faster, with sharper rallies in October and November that pushed returns well above gold. Meanwhile, Bitcoin trended lower through the same period, with several failed rebounds and deeper drawdowns into December.

This split highlights how capital rotated toward traditional safe haven assets during the period, while Bitcoin underperformed both metals. Even so, the gap between assets has widened to levels not seen earlier in the year. The data shows metals leading decisively, while Bitcoin remains compressed near the lower end of its six month range, setting a clear contrast in relative performance.

Bitcoin compresses into tight range after sharp pullback

Bitcoin traded sideways in late December after a steep decline from its recent highs, according to the daily BTC USDT chart from TradingView. Price moved into a narrow consolidation band near the mid to high $80,000s, following a breakdown from a broader distribution zone that capped advances earlier in the year.

The chart shows Bitcoin falling from above $110,000 before stabilizing between roughly $85,000 and $92,000. Multiple candles printed long wicks on both sides of the range, signaling active two way trading rather than a clear trend. This structure suggests the market is absorbing prior selling pressure after the sharp drop.

Crypto Rover said a decisive move could follow once Bitcoin exits this range. The chart supports that view, as prolonged compression often precedes expansion. For now, price remains trapped between short term support and resistance, leaving direction unresolved until a clear breakout or breakdown occurs.