Bitcoin Surge Linked to Long-Term Accumulation by Whales

A recent surge in Bitcoin prices has sparked interest among investors and analysts, with some attributing it to long-term accumulation by a small number of large investors. On-chain data analysis suggests that this accumulation may have occurred over an extended period, differing from past market lows.

According to Willy Woo, an on-chain analyst, the holding amount of Bitcoin has surged from 3% to 10% over the recent 7 to 30 days. This increase is attributed to long-term accumulation rather than a sudden influx of investors at a specific point in time.

The possibility that large investors or institutions are involved in this accumulation is also being considered, with some speculating that they may have dispersed their orders to absorb market volume.