Bitcoin Whales Accumulate $1.28 Billion as Prices Drop Below $90,000

On-chain data indicates that large Bitcoin holders, known as whales, are back in accumulation mode, taking advantage of lower prices.

Key Points

• Large Holders Netflow shows significant net buying from entities holding at least 0.1% of Bitcoin's supply, valued at approximately $1.67 billion.
• A positive Large Holders Netflow suggests bullish sentiment, while a negative flow can indicate selling pressure.
• Recently, the Large Holders Netflow turned positive again after earlier selling contributed to a price drop.
• Since Bitcoin fell below $90,000, these holders have acquired nearly 15,000 BTC, viewing current prices as an accumulation opportunity.
• Despite this buying activity, Bitcoin's price has declined by 2% in the past 24 hours, reaching $84,500.