CryptoQuant's Ki Young Ju noted similarities between current Bitcoin market activity and mid-2020 trends. Despite low volatility, on-chain activity remains high, with $1B daily added to new whale wallets. This echoes 2020's accumulation phase, leading to BTC surging to $64,000 by April 2021. Ki's comparative chart shows significant movement into BTC, hinting at potential accumulation by whales. Community responses varied, with some questioning a breakout timeline and others noting stagnant prices despite accumulation. In 2020, BTC stabilized around $10,000 for months, with increased on-chain activity attributed to OTC deals. Ki's comparison of 2024 vs. 2020 dynamics suggests a similar lead-up to a bull run. Analysts believe BTC is nearing new ATHs, with current low volatility seen as healthy price action amidst ongoing accumulation. Read more AI-generated news on: https://app.chaingpt.org/news
Bitcoin Market Activity Parallels 2020 Accumulation Phase
![](https://public.bnbstatic.com/image/pgc/202311/40f488e5134fb563894416a7165773be.png)
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