Bitcoin: Whales Resume Buying Amid Correction
As Bitcoin retreats 25% from its all-time high of over $109,000, an unexpected movement arises: whales are resuming their purchases. These significant wallets, often considered market barometers, are marking their first true return to accumulation since August 2024, according to Glassnode. In a context dominated by distribution and a sentiment reminiscent of the lows of 2022, this strategic signal could disrupt the prevailing bearish consensus and reignite investor attention on current levels.
While most of the market remains on the defensive, whales are initiating a notable shift in posture. According to Glassnode data, this is their "first significant accumulation since August 2024," a period when Bitcoin fluctuated between $50,000 and $60,000.
Alongside the return of the whales, the global Accumulation Trend Score indicator remains very low at 0.15. This reveals that most of the market continues distributing its assets. "Despite the activity of the whales, the aggregate market behavior remains geared towards selling," specifies the Glassnode analysis.
