Whales Drive Bitcoin's Rebound, Not Retail FOMO

Bitcoin has seen two consecutive rebounds from the $62,500-$63,500 zone without being driven by retail investors. According to CryptoQuant analyst @DanCoinInvestor, these recoveries were instead fueled by overseas whales.

The Korea Premium Index, which measures the price difference between Bitcoin on Korean exchanges and global spot markets, has been negative during both rebounds, indicating that Korean retail demand was not strong during this time.

This distinction is crucial because it suggests that the current recovery is more sustainable than a retail-driven one. Retail investors rely on FOMO to drive prices up, but once sentiment fades, their buying power disappears.

Whale and institutional accumulation, on the other hand, operates differently. Large buyers are absorbing sell-side pressure and setting a floor for the price.

The analysis suggests that if Korean retail demand turns positive, it could compound an already whale-supported structure, making the current recovery more powerful than ever.