Bitcoin Whales Buy Amidst Supply Surge: Potential Reversal Signals

Bitcoin whales have been quietly accumulating since August, despite recent price drops. Over 20,000 BTC was added to their wallets in a period where prices saw a 6.22% decline. This trend suggests continued confidence in Bitcoin’s long-term growth potential, with large investors seemingly unfazed by the recent weakness. Analysis of on-chain data reveals whales are strategically increasing their holdings, including those between 10 and 10,000 BTC. This accumulation aligns with a bullish reversal signal identified through a falling wedge pattern on the 4-hour BTC/USDT chart.