Bitcoin whales have significantly increased their holdings, acquiring approximately 270,000 BTC over the past 30 days, according to data from Alphractal. This accumulation represents nearly 1.4% of Bitcoin's total supply. Concurrently, Bitcoin exchange reserves have fallen to 2.21 million BTC, marking the lowest level in eight years and accounting for 5.88% of the circulating supply.
The market is currently experiencing heightened leverage on both sides, with Bitcoin trading between key liquidation zones at $76,000 and $86,000. The price recently closed near $79,905, with intraday movements ranging from $78,205 to $80,750. Technical indicators suggest potential buying pressure, contingent on Bitcoin maintaining levels above $80,000 and breaking towards the upper liquidation zone.
Bitcoin Whales Accumulate 270,000 BTC as Exchange Reserves Hit 8-Year Low
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