⚡️BTC price imminent rally? Bitcoin whales go on $1.6 billion buying spree

- Notably, the purchase came when Bitcoin experienced a significant price fluctuation below the $60,000 mark. Over the period, Bitcoin supply on exchanges has been steadily declining, indicating that whales are moving their holdings off exchanges and into long-term storage. The amount involved holdings of 100-1,000 BTC.

- Considering that Bitcoin and the general cryptocurrency market have suffered notable losses in recent days, this trend of whale accumulation often precedes price rallies. Notably, large holders tend to accumulate assets during periods of price consolidation before a significant upward movement.

- The current scenario suggests that whales are positioning themselves for a potential price surge, reducing the available BTC supply on exchanges and increasing the asset’s scarcity.

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