Bitcoin Whales' Accumulation Spree Continues as Price Slips
Bitcoin whales have been steadily accumulating BTC since July 15, adding 113,950 BTC to their collective holdings. This group of wallets holding between 100 and 1,000 BTC has seen a 2.22% increase in their total amount, now standing at approximately 5.24 million BTC.
The current price of BTC is $84,462, down by 2% from its previous value. The market's volume has reached $42.188 billion, with the 24-hour session ranging between $83,654 and $86,254.
This accumulation pattern is a reliable smart money signal in the crypto market, closely correlated with market direction. Historically, when this group of wallets adds to their holdings, it often precedes stronger price periods. Since mid-August, Bitcoin's price has climbed sharply while these whales continued to stack BTC, indicating that the rally had support from well-capitalized holders rather than retail excitement alone.
The immediate resistance level for BTC is $85K; reclaiming this area could lead to a push higher towards $86K-$86.4K. However, if the price falls below $83.6K, the next stop would be $82.8K-$83K, with deeper support at $82.7K and then $78.6K.