Bitcoin's price has surged back to around $94,000 after dipping below $75,000 earlier this month. This recovery is largely driven by significant buying from "whales"—investors holding over 10,000 BTC. According to Glassnode, these whales have an Accumulation Trend Score of 0.90, indicating strong buying activity. Wallets with 1,000 to 10,000 BTC also show a positive trend with a score of 0.7. Even smaller holders are starting to accumulate, reflected by a score of 0.5. Additionally, CryptoQuant reports the highest BTC outflow from exchanges in two years, suggesting that investors are moving their holdings to long-term storage, reducing the available supply on the market.
