Headline: Розничные инвесторы опережают китов в накоплении биткоина, предвещая консолидацию на рынке Translation: Retail Investors Outpace Whales in Bitcoin Accumulation, Foretelling Market Consolidation

By the end of 2025, the cryptocurrency market presented a complex scenario. Analysts from Santiment examined the situation by comparing the actions of major players with those of retail investors.

Since July 1, wallets holding less than 0.1 BTC have increased their balances by 3.31%. In contrast, addresses with holdings ranging from 10 to 10,000 BTC raised their positions by only 0.36%.

Experts have deemed this trend concerning. Historically, a shift toward a bullish market occurs when whales accumulate assets by purchasing them from disenchanted small holders.

In the latter half of 2025, the situation reversed: retail investors were actively buying, while large players either remained inactive or took profits at the October highs.

Simultaneously, there has been a waning interest in the asset. According to an analyst known as Oro Crypto, the «social volume» of Bitcoin is declining: even sharp price fluctuations no longer spark lively discussions, and mentions of the cryptocurrency have dropped to single-digit figures.

Typically, a market peak is accompanied by euphoria and widespread retail interest. The current state indicates emotional fatigue and apathy. The expert considers this a sign of consolidation or renewed accumulation rather than the end of the market cycle.

The decline in interest is also evidenced by a drop in trading volumes. Santiment recorded minimal activity for the last two weeks of the year.

Unlike the end of 2024, when altcoins such as Solana and Dogecoin were on the rise, trading volumes have halved.

According to data from the Alphractal platform, the ratio of long to short positions is increasing.

Despite traders aggressively betting on the rise of the leading cryptocurrency, the asset’s price is unresponsive to the growing number of long positions. This divergence poses a risk of the market moving against the consensus.

Long-term investors are signaling positivity: researcher Matthew Sigel from VanEck noted that holders have shifted to net accumulation for the first time since 2019. This reduces the selling pressure that had been observed earlier.

It’s worth noting that a trader known as Bull Theory compared the Bitcoin sideways movement to «the calm before the storm.»