Recent data suggests that Bitcoin is beginning to emerge from its bearish trend as accumulation by large and mid-sized investors increases. Over 15,000 BTC were transferred from exchanges to private wallets, fueling bullish sentiment. BTC’s price dynamics show potential for growth, pending critical resistance levels being breached, particularly around the $87,000 mark.
Bitcoin (BTC) is currently trading at approximately $84,500, following a period of significant volatility. On-chain data from Glassnode indicates that large investors, or whales, holding over 10,000 BTC, are increasingly accumulating assets. Concurrently, mid-sized investors, holding between 10-100 BTC, are returning to accumulation after a stretch of distribution, indicating a possible shift in market sentiment.
