Bitaigen Research 
In this article we outline the recent key dynamics in the Bitcoin market, focusing on how large‑scale holders (“whales”) increased their positions at low levels, igniting a price recovery. We also examine the parallel involvement of institutional and ETF capital and assess the short‑term risks and support zones. To understand the underlying logic and possible future scenarios, keep reading.
Key Takeaways
- Major holders added positions at low levels, accumulating roughly 40,000 BTC, which helped lift the price back above the $60,000 threshold.
- Despite the noticeable bounce, buying pressure has not yet pushed Bitcoin above $72,000, leaving short‑term downside risk still present.
Whale Accumulation at Low Levels Leads the Rally
Recently, market observers have identified that large‑address clusters moving in the 1,000‑10,000 BTC and 10,000‑100,000 BTC brackets each added about 22,000 BTC and 18,000 BTC, respectively, after Friday of this week. Glassnode data shows that during the 15‑month trough when Bitcoin fell below $60,000, these addresses collectively absorbed roughly 40,000 BTC.
The whale‑driven buying helped Bitcoin rebound sharply after bottoming on last Friday, delivering an approximate 20 % gain and reaching a high of $72,000. At the same time, Binance’s Secure Asset Fund for Users (SAFU) also entered the market, acquiring an additional 4,225 BTC—valued at about $300 million—bringing its total holdings to 10,455 BTC (around $731 million). About $239 million of that allocation remains unredeemed.
*Note for U.S. readers: Binance.US is the platform that complies with U.S. regulations; the global Binance service is not available to U.S. residents.*
Institutional and ETF Capital Join the Move
Investors in U.S. spot‑Bitcoin ETFs also took advantage of the dip, injecting roughly $331 million on Friday, which further underpinned the upward price pressure.
Price Upside Stalled: Failing to Break $72,000
In January, *Cointelegraph* reported that when Bitcoin slipped to $84,000, whales had already hoarded 56,000 BTC. The price subsequently rose 16 %, hitting a new yearly high of $96,000. However, that rally did not reverse the broader downtrend; Bitcoin later fell back below the $72,000 resistance level and continued sliding under $60,000.
On the 4‑hour chart, the price is approaching the lower trendline of an ascending triangle. A break below that line could extend the short‑term decline.
Crucial Support Zones and Analyst Commentary
The most closely watched support range at the moment is $66,000 – $68,000, with the 200‑week exponential moving average (EMA) sitting near that band. Christopher Inks, founder of West Texas Capital, highlighted on X that Bitcoin is more likely to exhibit a modest uptrend or sideways consolidation rather than forge a new low. In a Monday post he wrote:
“We have not been able to bring the weekly closing price of Bitcoin back into the $75,000‑plus zone. Expect a low‑level consolidation over the next 2‑3 weeks, with volume gradually tapering during any pull‑back.”
AlphaBTC added that the $66,000 weekly support could be retested before the next upward leg.
Outlook
Some commentators argue that Bitcoin may find a “real bottom” near $50,000, echoing the 2022 bear‑market pattern. While whale accumulation has injected fresh energy into the market, overall buying pressure remains insufficient to decisively breach the $72,000 barrier. Market participants should monitor subsequent support behavior and volume trends.
Tax reminder: Cryptocurrency gains may be subject to tax in your jurisdiction. Consult a tax professional to understand your obligations, especially when transferring fiat via SEPA or SWIFT channels.
This completes the comprehensive analysis of how Bitcoin whales accumulated roughly 40,000 BTC, helping lift the price to around $70,000. For further details on whale activity, please explore other articles on Bitaigen (比特根).
Related Reading
- Bitcoin Surges Past $66,000 Amid Jane Street Sell‑Off Rumors
- How U.S. Treasury Bonds Drive Bitcoin (BTC) Price Volatility
- Bitcoin Price Forecast 2026: Market Trends, Technical Patterns & Key Influences
💡 Register on Binance with referral code B2345 for the maximum trading fee discount. See Binance complete guide.
