243,000 BTC Accumulated Since July: Bitcoin Whale Activity Makes Bullish Reversal

Although Bitcoin is still struggling amid sustained crypto market volatility, it appears that whale sentiment is flipping bullish as sell pressure from large holders drops significantly. According to the latest data provided by crypto analytics platform CryptoQuant, Bitcoin whales are rapidly accumulating Bitcoin as their 1-Year Change in Whale Holdings indicator moves near the positive zone. The data shows that large Bitcoin holders, also known as whales, have accumulated about 243,000 BTC in less than three months. Notably, this marks a major reversal in their market activity after selling pressure eased in July, as whales have begun to expand their holdings once again. Following the bullish reversal in Bitcoin whale activity, further data shows that the 1-Year Change in Whale Holdings indicator is drawing near positive territory.

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