As 2026 begins, the cryptocurrency market presents an unusual contrast. Public interest and retail participation appear muted, yet behind the scenes, large investors are steadily positioning themselves.
This quiet divergence between sentiment and capital movement is shaping the early narrative of the year.
At the center of this shift is Bitcoin, where on-chain data reveals growing accumulation by large holders at a time when smaller traders are largely disengaged.
Bitcoin has shown moderate price stability near the $90,000 range in early January. While price action itself remains subdued, wallet data tells a more revealing story.
A post shared by Merlijn The Trader shows that addresses holding 1,000 BTC or more have shifted from selling to consistent accumulation, while retail demand has dropped to its lowest point in roughly a year.
INSIGHTS:
WHALES ARE BACK.
Addresses holding 1,000+ Bitcoin just flipped from net-selling to heavy accumulation again.
Retail watches price.
Whales watch liquidity.And right now… they’re stepping back in. pic.twitter.com/5a5fScKqTx
— Merlijn The Trader (@MerlijnTrader) January 2, 2026
Historically, retail participants tend to re-enter markets once momentum becomes obvious. Large holders operate differently. They accumulate during periods of uncertainty, low conviction, or limited attention.
Rising whale accumulation during weak sentiment often signals preparation for future market expansion rather than reaction to current price movements.
From Accumulation to Infrastructure Focus
Periods of Bitcoin accumulation have often coincided with increased interest in building on top of the network itself. As confidence quietly returns among large holders, attention frequently expands beyond simple price exposure toward scalability, efficiency, and utility.
In early 2026, this shift is becoming increasingly visible through renewed interest in Bitcoin-focused infrastructure projects, particularly those aiming to enhance transaction speed and network usability.
Within this context, Bitcoin layer 2 solutions are drawing growing attention. One project that has emerged prominently in this environment is Bitcoin Hyper.




















