Bitcoin Rebounds to $61,200 as Whales Ramp Up Accumulation

Bitcoin whales have not accumulated this much Bitcoin within a 30-day period since April 2023, shortly after several local banks in the United States collapsed.

Azcnews Bitcoin Rebounds To $61,200 As Whales Ramp Up Accumulation

Bitcoin has rebounded to $61,200 at present. Bitcoin whales capitalized on the cryptocurrency market downturn earlier this month, amassing 71,000 Bitcoins at the fastest accumulation rate since April 2023.

Most of this Bitcoin—valued at $4.3 billion at current prices—was acquired when Bitcoin dipped to $54,200 on July 5, according to a chart from cryptocurrency analysis firm IntoTheBlock.

CryptoQuant noted that Bitcoin whales are now accumulating Bitcoin at the fastest rate (on a 30-day moving average) since April 2023, shortly after several local banks in the United States collapsed. CryptoQuant analyst Minkyu Woo added in a separate post on X: “This indicates that the bottom for #BTC might be nearing completion.”


Meanwhile, retail traders have been offloading their holdings during the current price drop, as noted by cryptocurrency analysis firm Santiment. Santiment also observed a 261% net increase in the number of Bitcoin wallets holding at least 10 Bitcoins in the first 10 days of July.

“This will provide traders with comfort for a long-term bullish outlook.” However, it appears not all Bitcoin whales plan to accumulate and hold.

According to Whale Alert, a dormant Bitcoin whale resurfaced on July 14 after a 12-year hiatus, moving 1,000 Bitcoins worth nearly $60 million into two new wallets. Bitcoin is currently trading at $60,850, down 8.1% from the previous month.

Bitcoin Wallet
Bitcoin Wallet

Industry experts attribute the price decline to Mt. Gox preparing to sell $8 billion to creditors and the German government selling nearly 50,000 Bitcoins—worth $3 billion.

Related: Bitcoin Price Nears $60k as the German Government Runs Out of Bitcoin to Sell

However, Bitcoin began showing signs of price recovery over the weekend, breaking through the $60,000 resistance barrier and rising 6% since the close of trading on Friday.

This surge came shortly after U.S. presidential candidate Donald Trump survived an assassination attempt while speaking at a rally in Butler, Pennsylvania, on July 13.

Love

0.0/5

Love

Latest

70% Of Bnb Chain Memecoin Investors Are In Profit

News | Editor Choice | Memecoin

70% of BNB Chain Memecoin Investors Are in Profit – CZ’s “Meme Season” Is in Full Swing

The memecoin wave on the BNB Chain is exploding, with over 70% of investors reporting profits as capital floods in — marking the start of the most vibrant “meme season” ever predicted by CZ.

Paypay Acquires 40% Stake In Binance Japan

News | Editor Choice | Policy & Regulations

PayPay Acquires 40% Stake in Binance Japan

The acquisition of a 40% stake in Binance Japan marks a historic milestone for PayPay, paving the way for the convergence of traditional payments and digital assets, and shaping the future of Japan’s digital finance landscape.

Bitcoin Boom Ahead Institutional And Derivatives Data Reveal

News | Bitcoin | Editor Choice

Bitcoin Boom Ahead? Institutional and Derivatives Data Reveal

Market experts believe that Bitcoin (BTC) is in a phase of accumulation rather than topping, predicting a retest before the next explosive breakout.

Bnb Super Cycle – A Massive Rally Or Binance’s Next Big Bubble

News | Altcoin | Editor Choice

BNB Super Cycle – A Massive Rally or Binance’s Next Big Bubble?

Binance’s BNB token is heating up the crypto market with a series of new record highs, but amid the excitement of the so-called “Super Cycle,” many analysts warn it could just be a bubble waiting to burst.

Bitcoin Cools Off After Record Breaking Rally

News | Bitcoin | Editor Choice

Bitcoin Cools Off After Record-Breaking Rally

After a series of record-breaking gains, Bitcoin suddenly slipped more than 2% on Tuesday afternoon as a wave of profit-taking spread and investor caution returned to the crypto market.

Screenshot 2025 09 10 100533