Bitcoin whales took advantage of $60K price dip, scooping up 40K BTC

In a decisive display of ‘buy the dip’ confidence, large Bitcoin holders, commonly referred to as whales, aggressively accumulated approximately 40,000 BTC as the cryptocurrency’s price briefly corrected towards the $60,000 support level. This significant accumulation activity signals that major market players view the recent market downturn as a prime opportunity for entry and accumulation, rather than a fundamental shift toward bearish sentiment.

On-chain analysis suggests that the majority of this buying pressure came from addresses holding between 1,000 and 10,000 BTC. These entities typically possess deep pockets and strategic long-term perspectives. Their swift action to absorb the selling pressure around the $60,000 mark prevented further cascading liquidations and helped stabilize the market quickly.

Whale activity often serves as a key barometer for market health. When retail investors are prone to panic selling during volatility, the strategic purchases made by whales act as crucial support floors. The rapid intake of 40,000 BTC—valued at over $2.4 billion at the time of purchase—underscores the strong institutional conviction that Bitcoin’s long-term trajectory remains upward. Analysts suggest that this accumulation phase may signify the end of the immediate correction cycle, potentially paving the way for renewed upward momentum as sellers are exhausted and supply is moved into stronger hands.

Source: Bitcoin whales took advantage of $60K price dip, scooping up 40K BTC