Bitcoin Sharks Are Buying Again—But Analysts Warn of a Bull Trap

Ben Graham · 5 horas atrás

Large Bitcoin holders, often called “sharks,” reportedly ramped up buying during the latest price pullback. Bitcoin slipped from near $98,000 to around $88,000, shaking out many newer buyers along the way. This split between quiet accumulation and loud crash warnings now defines the market mood.

So what? When big holders buy while prices fall, it often signals long-term confidence. But history also shows that sharp drops can still hit before any real recovery begins.

This tension matters more in a cycle where many analysts already question whether Bitcoin still follows its old four-year rhythm.

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Who Are “Bitcoin Sharks,” and Why Do They Matter?

In on-chain data, “sharks” hold between 100 and 1,000 BTC. At today’s prices, that’s millions of dollars per wallet. Think of them like early insiders or professional desks, not day traders on their phones.

This group added roughly 54,000 BTC in a single week. That marks the fastest accumulation pace since 2012.

(Source: BTC shark net position change / Glassnode)

Why this matters: When sharks buy, they remove coins from circulation. Less supply floating around often sets the stage for stronger moves later, even if the price stays weak in the short term.

This pattern has appeared before during periods of fear, including early 2013 and mid-2024. In both cases, patient buyers won, but only after sharp volatility.

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Why Some Analysts Still Expect a Sharp Drop

Not everyone sees this as a green light. Several chart analysts warn that Bitcoin looks like a “bull trap,” which is a fake breakout that lures buyers before a deeper fall.

One analyst pointed to similarities with the 2021 double top, where repeated breakouts trapped late buyers. He argues Bitcoin could slide toward $35,000 as early as February.

This chart perfectly predicted the current Bull Trap to ~$97K.

It's the EXACT same Double Top setup from 2021.

If the 4-year pattern is still in play, $BTC will dump to $35,000 in February.

Get ready for what’s coming next. pic.twitter.com/1kusk1jwhF

— Lofty (@0xLofty) January 20, 2026

The “so what” here is simple: Even smart money can buy too early. Big wallets have longer time horizons and bigger cushions than retail investors.

That’s why price warnings still deserve respect, especially for anyone using leverage or short-term strategies.

What This Means for Regular Bitcoin Investors

For beginners, this is not a buy-or-sell signal. It’s a context signal. Shark accumulation shows that long-term conviction remains, even while headlines turn scary.

At the same time, short-term pain stays on the table. This is the kind of environment where emotional decisions cost the most.

(Source: BTCUSD / TradingView)

If you already hold Bitcoin, this helps explain why price refuses to fully collapse despite bad news. If you’re new, this is a reminder to think in slices, not lump sums.

Dollar-cost averaging, or buying small amounts over time, reduces the risk of bad timing. It also keeps you from chasing green candles.

For a bearish counterpoint, see recent warnings of Bitcoin crashes making the rounds.

Shark Accumulation Signals a Market Structure Shift

On-chain data from multiple sources shows large holders adding BTC while smaller wallets trim exposure. According to ChainCatcher, whales and sharks added more than 56,000 BTC since mid-December.

This behavior often marks consolidation phases. The market transfers coins from impatient hands to patient ones. That doesn’t mean price jumps tomorrow. It means ownership shifts quietly before the next major trend shows itself.

(Source: Smart Money Vs Retail / X.com)

We’ve seen similar setups before institutional demand ramps up, including ETF inflows and corporate treasury buys. If you want the bigger picture, our guide to Bitcoin’s declining price explains how macro fear drives these moves.

For now, sharks are voting with their wallets, not their words. The next few weeks will test whether patience or caution pays off first.

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