Bitcoin Buying Just Ramped Up Into The Billions Again, Is It Time To Get Back In?
Recent on-chain information reveals a big enhance in Bitcoin flowing into sure wallets, suggesting renewed accumulation. Despite experiencing months of bearish strain and major sell-offs, some traders look like utilizing the continuing market downturn as a chance to strengthen their positions. With the current accumulation ramp-up, the query stays whether or not now could be the time to get back into the market.
Bitcoin Accumulation Rise Amidst Price Downturn
The Bitcoin value has been grinding decrease in current buying and selling classes, slipping below $64,000. The world’s largest cryptocurrency has failed to carry a number of assist ranges, with every leg down additional suppressing any meaningful upside momentum.
Related Reading: Expert Trader Who Correctly Predicted Bitcoin Top Just Shared A Chart Pointing Below $4,000
Yet beneath the floor of this declining value and market sell-offs, sure holders are quietly accumulating BTC. On-chain information from Glassnode reveals that over the previous three weeks, so-called ‘previous provide,’ which refers to wallets holding BTC which have sat dormant for at the least six months, has risen by a whopping 188,000 BTC. This substantial quantity of cash is valued at greater than $12.75 billion.
Notably, the current rise in BTC accumulation amongst previous provide signifies that many seasoned traders are selecting to sit down and maintain their cash reasonably than promote into weak spot, as many retail participants have been doing. The renewed accumulation additionally comes as whales proceed to execute large-scale BTC withdrawals, with Whale Alert lately reporting a current outflow of greater than $266 million from exchanges.
Adding extra gas to the continuing accumulation development, Spot Bitcoin ETFs have recorded vital inflows. Data from SoSoValue shows that Bitcoin ETFs had attracted a mixed influx of $1.02 billion between February 24 and 26. This rise in demand additional signifies that traders are actually getting into the market, seemingly positioning for a possible rebound.
BTC Sell-Offs Show Signs Of Exhaustion
Prominent Bitcoin analyst Willy Woo has shared comparatively excellent news, issuing a sobering outlook for BTC’s value. In a current X publish, Woo instructed that the market could also be getting into an extended period of weakness earlier than any significant restoration takes form. The bearish outlook comes because the analyst acknowledges that the current wave of promoting strain from traders seems to have exhausted, probably giving Bitcoin extra room to consolidate sideways for a few month.
With the bearish sell-down easing, Woo predicts Bitcoin could initiate a brief rebound again to the mid-$70,000 vary. However, he cautioned that such a restoration would seemingly be rejected. The analyst pointed to deteriorating liquidity throughout each spot and futures markets as a key purpose for this rejection. He said that he had by no means seen Bitcoin rally when each sources of liquidity had been trending bearishly on the identical time.
Looking additional forward, Woo projected that Bitcoin’s present bearish development might persist effectively into the 12 months, with a possible turning level anticipated to reach someday in This fall 2026. Subsequently, he instructed that BTC’s bullish momentum might also return in both Q1 or Q2 of 2027.
On the query of how far present costs might fall, Woo estimated {that a} plunge to $45,000 might mark a bear market backside for BTC. He additionally said that if world macro breaks down, $30,000 may very well be the fallback assist stage, with $16,000 highlighted as the ultimate line of protection to take care of Bitcoin’s bull development.
