Bitcoin whales flip the script, accumulate as others distribute in potential market bottom signal

Quick Take

A notable shift in Bitcoin accumulation patterns has been observed among Bitcoin ‘whales’—entities holding 10,000 or more Bitcoin. For the first time since June, when Bitcoin was valued at $25,000, this cohort has shifted from distribution to accumulation.

This change in behaviour is significant as these high-level holders, often referred to as the ‘smart money,’ have been in distribution mode, capitalizing on profits as Bitcoin’s value increased towards $30,000 over July and August.