Bitcoin Whales Accumulate as Market Enters Early Bull Phase
- Whale holdings have reached a high of 3.03 million BTC, the most since November 2025.
- Five new wallets received a total of 1,162 BTC worth $96.77 million from Wintermute within a span of just twelve hours.
- USDT borrowing with over $10 million in BTC collateral increased by over 83% in September.
- Spot bitcoin exchange-traded funds (ETFs) have seen positive net flows year-to-date, totaling about 2,300 BTC.
- Cryptoquant indicates potential pullbacks toward the 365-day average near $80,000 despite an early bull market phase.
The recent surge in whale activity highlights a shift from distribution to accumulation, with large holders adding significant amounts of Bitcoin to their portfolios as prices hover around $83,700.
This accumulation trend is supported by increased borrowing against Bitcoin and renewed interest in ETFs, suggesting confidence among larger investors despite potential short-term price fluctuations.
