Bitcoin's Consolidation Continues as Whale Accumulation Clashes with Selling Pressure

Bitcoin is trading in a narrow range between $62,000 and $65,000, sending mixed signals to investors.

A breakout above a bullish pennant pattern has injected fresh optimism into the market, but longer-dated spot flow data reveals that selling pressure remains a formidable headwind.

On-chain metrics are pointing to a potential bottom formation, with the Supply in Profit metric sitting at approximately 11.44 million BTC, historically associated with bottom discovery and liquidity accumulation phases.

Larger investors have been aggressively accumulating Bitcoin in the $63,000 to $65,000 range, but exchange inflows indicate that sell-side supply continues to enter trading platforms.