Whale Activity on Spot Exchanges Mirrors Post-COVID Patterns

Recent analysis of the whale ratio on spot exchanges, represented by a 30-day moving average, indicates a pattern reminiscent of the post-COVID crash in 2020. This metric suggests that large holders, or "whales," are currently accumulating Bitcoin.

One plausible interpretation is that these whales are preparing for a potential price surge following the next Bitcoin halving. This accumulation strategy could be aimed at capitalizing on the anticipated long-term price increase post-halving.

Overall, the data points to a bullish outlook for Bitcoin, driven by strategic whale accumulation.