Bitcoin whales, those with over 10K BTC, have recently increased their holdings to a six-year high after a significant accumulation spree over the past six weeks. Despite strong selling pressure, these whales have added 212,450 BTC, primarily owned by exchange liquidity providers, showing confidence in Bitcoin’s future.
Small whale cohorts, holding over 10 BTC, have also reached an all-time high, accumulating 16.17 million BTC. This collective accumulation is a historical milestone, reflecting growing confidence among larger holders.
Recently, the Bitcoin price bounced back, rising 4.5% from a low of $53,500 to $56,500, driven by strong inflows in spot Bitcoin ETFs, particularly from Fidelity. However, for Bitcoin to resume its rally, the price must close above $61,000, with support currently seen around $47,000.
This accumulation trend highlights strategic confidence in Bitcoin’s long-term potential despite market volatility.
