Bitcoin (BTC) is ready to take off: Whales are pushing for buying.

According to Onchain data, despite Bitcoin’s downtrend, whales are showing an appetite for buying.

According to Onchain data, three major whales have collected approximately 2,814 BTC ($157 million) from Binance since September 1. This corresponds to approximately $55,887 per Bitcoin. Despite the sharp movements in BTC, the fact that whales continue to buy has given confidence to both the market and crypto investors.

Bitcoin is currently trading in a descending triangle structure. Although this structure is generally interpreted as bearish, it can also indicate consolidation before an uptrend. Given the continuous accumulation of whales, it seems possible that Bitcoin will soon catch the wind and start to rise.

Whale inflows also show that large investors see this decline as an opportunity. Despite the decrease in institutional player participation, Bitcoin’s resilience in the face of these inflows suggests that the market has stabilized and there is no significant downtrend. If whales continue to buy BTC, a sharp upward breakout may occur with increasing liquidity.

In addition to these, positive news will push the $BTC price upward. When we look at the current process, there is no significant news that positively affects Bitcoin. However, this scenario seems to change as the Fed lowers interest rates and the US presidential election are approaching. If former US President Donald Trump wins the race, a rally in cryptocurrencies led by #BTC can be expected.