Bitcoin Whales Accumulate 67,854 BTC in Week, Signaling Bullish Trend

Bitcoin is currently in an accumulation phase, with a significant move by a dormant whale and sustained buying pressure fueling bullish sentiment. A whale that had been inactive for two years recently purchased 250 BTC worth $26.3 million, withdrawing 500 bitcoins worth $13.7 million from an exchange two years prior. This move signals growing confidence in Bitcoin’s prospects, as the whale is now sitting on a $39 million unrealized profit. This behavior aligns with the broader market trend, where most investors are once again stacking BTC.

Whales are actively pulling BTC from exchanges, indicating a strong conviction in the asset. The Netflow Ratio of Large Holders has dropped to the negative zone, hitting -0.05, which means whales are not sending coins to exchanges to sell but are moving them out. This aligns with broader Exchange Balance data, which shows that over the past week, about 67,854.33 Bitcoins have left centralized exchanges. Specifically, 25,368.42 BTC flowed out of one exchange, 10,291.95 BTC flowed out of another, and 9,867.35 BTC flowed out of a third, signaling high demand for the crypto. The Taker Buy Sell Ratio has remained positive for two consecutive days, suggesting that buyers are dominating the market. Buyers have scooped 8.68k BTC over the past two days, with the market recording a positive delta.

If the market maintains this momentum, Bitcoin could break above the $107K resistance and retest the $109K zone, a level that has rejected buyers twice before. However, if buying pressure fades, the vacuum could be quickly filled by sellers, and BTC risks dropping below the $104K support and slipping as low as $101,436. Historically, a high demand for Bitcoin has preceded higher prices. For instance, when BTC rallied to its recent all-time high, buyers accumulated 65.9k BTC within 48 hours. This pattern suggests that if the current buying momentum continues, Bitcoin could see significant price appreciation.