Bitcoin's valuation has reached a 2022 low, with the BTC Yardstick metric indicating it is 1.6 standard deviations below the long-term average. In the past 30 days, large holders, or whales, have accumulated 269,822 BTC, valued at $23.3 billion, marking the largest monthly purchase since 2011. Despite the price drop, network activity remains stable, with no significant on-chain changes observed. This accumulation suggests that institutional investors may be positioning for a potential market recovery.