Bitcoin Whales Absorb Supply as Retail Investors Sell

Large Bitcoin holders, known as whales, have been accumulating significant amounts of BTC in recent weeks. According to Pluang, over 39,000+ BTC worth nearly $3 billion has been bought by these whales since a price rally from $62,229 to above $81,500. Meanwhile, smaller retail investors have been selling their holdings, reducing the available Bitcoin on exchanges.

This divergence in behavior suggests that whales are absorbing supply as retail investors take profits, potentially leading to further price increases for Bitcoin. If this trend continues, Bitcoin's price could rise beyond its current levels.