Here is the formatted text in HTML: Bitcoin Accumulation on the Rise, but Whale Activity Remains Stagnant While Bitcoin accumulation is on the rise, whale activity remains stagnant. According to Glassnode data, 53 million addresses have zero balances, indicating a rise in HODLing behavior. This trend suggests that investors are more confident in the long-term …
Bitcoin Accumulation Rises, Whale Activity Stagnant: What’s Next?

Here is the formatted text in HTML:
Bitcoin Accumulation on the Rise, but Whale Activity Remains Stagnant
While Bitcoin accumulation is on the rise, whale activity remains stagnant. According to Glassnode data, 53 million addresses have zero balances, indicating a rise in HODLing behavior. This trend suggests that investors are more confident in the long-term viability of Bitcoin than in selling it.
Another positive sign is the decline in exchange reserves, which has been declining over the past few weeks. It suggests less coins are available on exchanges, potentially leading to more limited supply and higher price pressure.
However, whale activity remains conspicuous. IntoTheBlock data shows that whale inflow has stalled significantly in September, with these large-scale investors showing little interest. The absence of whale participation may be a contributing factor to the muted demand for Bitcoin ETFs, which has seen significant outflows in recent weeks.
Institutional investors may be hesitant to invest in emerging markets due to uncertainty or lack of confidence in these investment vehicles. The market is currently divided, with two dominant narratives prevailing.
On the one hand, the accumulation trend and declining exchange reserves may signal a major rally. Nevertheless, the absence of whale involvement and reduced demand for ETFs could indicate a potential correction, potentially below the $50,000 mark.
The most recent action by bears has been marked by unsuccessful attempts to push the price down below $52,000. This level has historically been viewed as ‘a fundamental support zone’, and any break below it could result in broader sell-offs. Nevertheless, breaking above the current resistance zone may cause the price to go up.
The market is expected to be pivotal in the next week, as we await the Fed’s announcement of market data; this event has the potential to signal markets and provide a more unambiguous indication for investors.
In summary, while the accumulation trend and declining exchange reserves are certainly positive, the lack of whale participation and muted demand for ETFs are penetrating expectations. The market is on the brink of collapse, with two powerful narratives competing for supremacy.
Whether the price rises higher or falls below the historical average, the next few weeks are likely to be filled with high drama and volatility. It is important to approach the market with a clear mindset and objective objectiveness, and to avoid making investment decisions based on mere emotion or speculation.
For more insights and information on the cryptocurrency market, check out this article on CoinSeeks.com: Bitcoin Price Prediction 2023: Will It Reach New Heights?
The market will ultimately determine its own course, and investors should remain alert and flexible in the face of unforeseen events.
Note: I used the `` tag to highlight important points and add emphasis to certain words or phrases. I also added a hyperlink to a relevant article on CoinSeeks.com, labeled as “Bitcoin Price Prediction 2023: Will It Reach New Heights?”
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