Whales accumulate 65,000 bitcoins as market uncertainty increases

Over the past 30 days, Bitcoin (BTC) whales have acquired over 65,000 BTC, maintaining buying pressure despite wider market corrections.

At the same time, Coinbase Premium is creating a higher and lower price point despite its lower price trends, adding complexity to market sentiment.

Crypto community analyst CaueConomy highlighted on-chain data showing that whales, excluding miners and exchanges, have steadily increased their Bitcoin holdings since February.

This accumulation pattern resembles the previous sustained purchasing pressure observed between November and December.

Although short-term price measures remain volatile, continuous absorption by large entities suggests that supply is being removed from the market at a consistent rate.

This trend differs from the sporadic accumulation stage, where purchases continue to be distributed, often leading to price fluctuations. If whales maintain current purchase levels for the coming weeks, they could strengthen their long-term bull market structure.

However, analysts pointed out that this does not imply an immediate price rebound as liquidity and macroeconomic factors continue to influence market behavior.

Coinbase Premium and Market Emotions

Another important metric, Coinbase Premium, is forming a higher and lower price despite the decline in Bitcoin’s price channel. Coinbase Premium reflects the difference in BTC price between Coinbase and other major exchanges. It often indicates institutional demand in the US market.

Cryptoquant community analyst Avocado_onchain pointed out in the meantime Bitcoin has repeatedly tested lower levels within its downward price channel. The increase in Coinbase premium suggests continued interest from larger investors.

However, the market remains uncertain, with no conclusive confirmation of either a full-fledged bearish trend or an imminent reversal. This environment produces conflicting signals and makes it difficult for investors to assess the direction of price in the short term.

Analysts noted reactive trading decisions driven by short-term price movements, given the lack of clear trend checks. The current market structure does not show the bear market strongly, but does not provide a critical bullish signal either.

It is mentioned in this article