BTC Price Bottom May Be Due to Single Large Buyer

BTC's recent price bottom may have been accumulated gradually by a single whale or a small group of large buyers, according to analyst Willy Woo. This is based on an unprecedented anomaly in BTC's HODL Wave data, which tracks how long coins remain unmoved.

Normally, broad investor buying creates spikes in short-term holding bands, but this time such spikes are absent, indicating slow accumulation by few entities. While this is Woo's interpretation, other factors like ETFs or derivatives could also explain the anomaly.

BTC's market remains fragile amid a recent dip below $77,000 and a major derivatives expiry approaching.