Bitcoin Whales Pile Up 54,400 BTC as Smaller Investors Sell

Bitcoin whales have been accumulating large amounts of the cryptocurrency over the past two months. According to CryptoQuant, since June 14, these investors holding more than 100 BTC have purchased approximately 54,400 additional Bitcoin.

In contrast, smaller investors with less than 100 BTC have been selling, offloading around 27,400 BTC during the same period.

Despite this accumulation by whales, on-chain indicators suggest that a clear bullish reversal has yet to occur. The seven-day moving average of SOPR remains below 1, indicating ongoing stop-loss selling. To confirm a potential upside breakout, investors should watch for Bitcoin to break out above the $62,000 to $65,000 range.