Short-term investors dump nearly $4 billion worth of Bitcoin, giving whales a chance to accumulate.

On Tuesday, whales' holdings increased by nearly 16,000 BTC, or about $1.5 billion.

This figure reflects institutional addresses, but many coins may still be on exchanges.

Currently, there is not enough buying volume to create a broad "buy the bottom" trend, which is mainly concentrated among institutions.

More buying volume from both retail and institutional investors is needed to reach a new high.