Bitcoin’s recent rally to $94,000 is gaining momentum as on-chain data reveals an increase in buying activity by crypto whales (large investors who hold significant amounts of BTC). On-Chain Data Shows Bitcoin Whales Driving Price Rally with Aggressive Accumulation According to new information from blockchain analytics firm Glassnode, entities holding more than 10,000 BTC are accumulating aggressively, signaling growing confidence in the recent price breakout. These high-capacity wallets recorded an Accumulation Propensity Score of 0.90 as of Thursday, indicating strong net buying behavior. A score of 1 indicates heavy accumulation, while a score close to zero indicates distribution. Medium-sized wallets holding between 1,000 and 10,000 BTC also joined the accumulation wave with a trend score of 0.7, while smaller wallet holders started accumulating with a score of 0.5, indicating broader market participation in the rally. “So far, the big players are buying this rally,” Glassnode said on X, lending credence to the idea that institutional and deep-pocketed investors are helping drive the price action. Additional confirmation comes from CryptoQuant, which reported the highest outflow of Bitcoin from centralized exchanges in over two years, based on the 100-day moving average metric. Such outflows are typically interpreted as a bullish sign as they indicate investors are moving assets to cold storage, an indication of long-term holding rather than short-term speculation. “A review of historical patterns suggests that this could indicate a reaccumulation of assets by investors,” CryptoQuant analysts commented. Bitcoin has rallied from monthly lows below $75,000 to reclaim the $94,000 level, and this momentum has been fueled largely by increased institutional interest, ETF inflows, and now on-chain approval from whales. With whales back in force and central exchange reserves dwindling, many analysts see this as a strong signal that the bull market may have more room to run. *This is not investment advice. Continue Reading: Bitcoin Whales Continue to Accumulate BTC! Will It Affect the Rise? Here Are the Details
https://www.digistore24.com/redir/325658/ceobig/
