Bitcoin whales have accumulated $90 billion worth of BTC since May during range-bound market conditions. Investors with over 1,000 BTC have significantly increased their holdings, pointing to robust confidence among high-net-worth individuals despite recent price corrections.
The rapid growth in whale holdings from 335,000 BTC in May to around 1.9 million BTC today underscores this trend. Recent data shows that whales continue to acquire BTC even during price declines, reflecting ongoing accumulation despite market volatility.
The recent drop in Bitcoin's price to below $59,000 led to major liquidations, yet whales netted additional BTC. This ongoing trend results in a declining Bitcoin exchange reserve at 2.571 million tokens from 2.576 million tokens at the start of October.
Market analysts offer varying predictions, with some suggesting Bitcoin could hit an all-time high of $150,000, while others warning of potential downturns if Bitcoin fails to break out of its current range.
