Bitcoin's (BTC) recent price movements have been a subject of interest for many crypto enthusiasts, and it seems like whales are pushing for buying, despite the downtrend ¹. Onchain data reveals that three major whales have collected approximately 2,814 BTC ($157 million) from Binance since September 1, which is a significant amount ². This buying spree has instilled confidence in both the market and crypto investors, indicating a potential uptrend ³.

Bitcoin is currently trading in a descending triangle structure, which can be interpreted as bearish, but it also suggests consolidation before an uptrend ⁴. The continuous accumulation of whales implies that Bitcoin may soon experience an upward breakout, especially if positive news emerges ⁵. The upcoming US presidential election and potential interest rate cuts by the Fed could be catalysts for a rally in cryptocurrencies led by $BTC

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