Bitcoin Whales Keep Buying as Market Sends Mixed Signals

Despite Bitcoin’s price struggles, large investors have continued to accumulate, adding over 65,000 BTC in the past month.

This steady buying comes even as the market faces corrections, suggesting confidence among major holders.

On-chain data shows that whales—excluding exchanges and miners—have been increasing their holdings since February, following a pattern similar to late 2023, when sustained accumulation helped stabilize the market.

Unlike short-term buying spurts that lead to quick sell-offs, this trend indicates a consistent withdrawal of BTC from circulation, which could shape future price movements.

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Another key factor is the Coinbase premium, which measures Bitcoin’s price difference between Coinbase and other exchanges. Despite Bitcoin’s declining price, this premium has been forming higher lows, signaling ongoing institutional interest.

Analysts believe this could indicate long-term bullish sentiment, but caution that macroeconomic conditions and liquidity constraints remain influential.

While the market lacks a clear trend—neither confirming a bearish phase nor signaling an imminent recovery—experts warn against overreacting to short-term fluctuations. The conflicting signals make it difficult to predict Bitcoin’s next move, leaving investors in a wait-and-see mode.

Alexander Stefanov