Whales Fuel Bitcoin’s Comeback with Major Accumulation

Bitcoin’s price has surged back to around $94,000 after dipping below $75,000 earlier this month. This recovery is largely driven by significant buying from “whales”—investors holding over 10,000 BTC.​ According to Glassnode, these whales have an Accumulation Trend Score of 0.90, indicating strong buying activity. Wallets with 1,000 to 10,000 BTC also show a positive trend with a score of 0.7. Even smaller holders are starting to accumulate, reflected by a score of 0.5. Additionally, CryptoQuant reports the highest BTC outflow from exchanges in two years, suggesting that investors are moving their holdings to long-term storage, reducing the available supply on the market.