Whales Swallowing Bitcoin Fast — Will This Push BTC Price Up?
Large investors, or "whales," are purchasing Bitcoin at unprecedented levels, acquiring approximately three times the daily production from miners. Investors holding between 100 and 1,000 Bitcoins are responsible for over 300% of Bitcoin's annual supply emission. Concurrently, major crypto exchanges are experiencing significant outflows, indicating that these large holders are moving assets into long-term storage, reflecting growing confidence in Bitcoin's future value. Many whales are buying during price declines, viewing these moments as opportunities to increase their holdings. Bitcoin is currently testing key resistance levels around $85,500, with potential support at $80,000. The price has been fluctuating between $75,000 and $85,000 amid low volatility and strong buying pressure, suggesting accumulation is taking place. After reaching nearly $100,000 earlier in the year, Bitcoin has corrected by nearly 30%, a trend consistent with previous bull markets where mid-cycle drops of 25-35% often precede upward movements.
