Whale accumulation surge echoes 2020's bullish momentum as Bitcoin price rebounds above $81K.

Bitcoin Whale Accumulation Trend Mirrors 2020-Era Bullish Activity After BTC Price Bounces Off $81,000

A recent surge in Bitcoin (BTC) price has led to a significant increase in whale accumulation, a trend reminiscent of the 2020-era bullish activity.

According to data from crypto analytics firm Santiment, the number of large transactions (whales) on the Bitcoin blockchain has seen a substantial rise since the cryptocurrency's price bounced off the $81,000 mark. This increase in whale activity is often seen as a bullish sign, as it suggests that large-scale investors are accumulating Bitcoin, which can drive up the price.

The data shows that the number of transactions exceeding $100,000 in value has increased by over 50% since the price bounce, with the majority of these transactions being classified as "whale" transactions. This type of activity is typically seen during times of market optimism, when investors are looking to accumulate assets at lower prices and later sell them at higher prices.

The current trend mirrors the activity seen in 2020, when Bitcoin's price surged from around $7,000 to over $60,000. During that time, whale accumulation was a key driver of the market's upward momentum, as large-scale investors and institutions entered the market and drove up the price.

While the current market conditions are different from those of 2020, the increase in whale activity is a positive sign for Bitcoin's price, suggesting that large-scale investors are accumulating the cryptocurrency and potentially setting the stage for further price gains.