Retail investors have significantly increased their Bitcoin holdings in the second half of 2025, according to data from Santiment. While whale wallets, holding between 10 and 10,000 BTC, saw a modest increase of 0.36% since July 1, retail investors with less than 0.1 BTC expanded their holdings by 3.31% by the end of the year. This trend deviates from historical patterns where whales typically accumulate during bear-to-bull transitions, while retail investors tend to sell. The ongoing shift in investor behavior could lead to significant price movements in 2026.