Large Bitcoin holders, known in the industry as whales, accumulated 16,010 BTC over a five-day period as the cryptocurrency’s price dropped from $87,000 toward $80,000, according to data prov
Large Bitcoin holders, known in the industry as whales, accumulated 16,010 BTC over a five-day period as the cryptocurrency’s price dropped from $87,000 toward $80,000, according to data provided by blockchain analytics firm Santiment.
On-chain analyst Ali Charts highlighted this buying activity on X, noting that whales increased their collective balance from 5,247,316 BTC to 5,263,326 BTC. This shift marks a 0.305% growth in whale addresses despite ongoing market weakness.
Santiment, a platform specializing in real-time on-chain and social analytics, supplied the figures used by Ali Charts. The additional accumulation by large holders came as Bitcoin slid to $80,000, underlining the appetite of big investors to buy during price declines.
At the time of reporting, Bitcoin was trading at $83,341.34, gaining 0.56% over the preceding 24 hours, although the asset was still down 3.19% on a weekly basis. Trading volume across exchanges stood at $22.48 billion, reflecting persistent interest even during turbulent market conditions.
Ali Charts observed that whales absorbed over 16,000 BTC in five days, raising their total balance while spot prices moved steadily lower.
This buoyant activity among whales has drawn the attention of analysts assessing whether such inflows could offer support for a rebound in the Bitcoin market.
Analyst Ali Charts outlined several crucial price levels where Bitcoin must break through to sustain upward momentum. According to on-chain data from analytics provider Glassnode, around 800,000 BTC were previously exchanged near $84,569, making this price level a significant supply zone.
Market participants view this area as a pivotal resistance point. Clearing it would signal renewed strength from buyers and potentially pave the way for the next leg higher.
Nearly 800,000 BTC last traded close to $84,569, setting a strong supply barrier that Bitcoin needs to overcome before launching higher, according to Glassnode and Ali Charts.
In addition to supply resistance, Bitcoin is currently challenging the lower edge of a rising channel—a technical pattern that traders use to gauge market direction. Should buyers defend this support, the analyst expects upward movement to resume.
Ali Charts stated that if Bitcoin sustains above the channel’s bottom and breaches the $84,569 mark, the next upside focus would fall on targets near $89,000 and $94,000. These technical levels, which represent the channel’s midpoint and upper boundary respectively, are viewed as milestones for a continued rally if current resistance is surpassed.
Bitcoin whales are often closely monitored by traders and analysts due to the significant influence these high-net-worth investors can exert on price trends. Their accumulation often signals potential shifts in market sentiment.
Santiment and Glassnode are both recognized sources for blockchain data, regularly cited for their on-chain analytics and real-time transaction monitoring.
Mini dictionary: Santiment and Glassnode, two blockchain analytics firms, provide real-time insights on large transaction flows, holding patterns, and market activity directly from blockchain data, assisting traders and researchers in analyzing institutional and whale behavior.
Metric Value Change Whale holdings 5,263,326 BTC +16,010 BTC (+0.305%) BTC price (latest) $83,341.34 -3.19% (7 days) Trading volume (24h) $22.49 billion — Key resistance $84,569 — Upside targets $89,000, $94,000 —The post Bitcoin whales add 16,010 BTC as price falls from $87,000 to $80,000 appeared first on COINTURK NEWS.
