Bitcoin whales are quietly accumulating BTC, according to a new analysis from IntoTheBlock. Even though the market atmosphere is full of FUD, there has been a shift in Bitcoin accumulation patterns with a surge in inflows to the largest wallets. 🐳

Data shows holders controlling at least 0.1% of the total Bitcoin supply increased their holdings by 7,130 BTC in a day, worth about $436 million.

On June 24, when the price of bitcoin briefly fell below $60,000, there was a huge spike in inflows. Large holders managed to take advantage of this drop by adding 7,130 BTC to their wallets.

This accumulation trend shows great investor confidence in the price trajectory of bitcoin, which is currently under great pressure.

However, the data also shows signs of a local baseline has emerged. According to CryptoQuant, these signs formed after a correction of around 15% over the past three weeks.

For short-term holders, the price of bitcoin has fallen below the realized price of $62.6k, making this group slightly unprofitable. Historically, this level has served as support during local corrections within a broader uptrend.

However, the current structure suggests a possible local bottom. So, are you ready to dive in with these Bitcoin whales? Share your opinion in the comments column! 😄