Bitcoin Approaches $90K as Whales Accumulate Record BTC Supply
- Whales purchased approximately 270,000 BTC over the past month, marking their largest buying spree since 2013.
- Bitcoin has broken out of a symmetrical triangle pattern, with a target price near $92,220.
- US-based spot Bitcoin ETFs saw over $200 million in net inflows during this period.
- The price must surpass its 200-day EMA around $83,000 to confirm further upward movement.
- Recent easing of US–Iran tensions contributed to a rebound in Bitcoin’s price after a 15% drawdown.
The significant whale accumulation and ETF inflows indicate renewed interest in Bitcoin despite recent volatility. Analysts suggest that if current trends continue, Bitcoin could see substantial price increases.
With whales absorbing about 20 times the daily new supply, Bitcoin is positioned for potential growth towards the $90K mark as it approaches key resistance levels.
