Large investors seem to be upping their ante; at least, that’s the story of Bitcoin and its latest rebound to over $63,000 today. And market watchers have indeed taken notice. On the inside, however, is key on-chain data that suggests Bitcoin whale accumulation and the reactivation of dormant wallets may be signs for a super price spike ahead. Related Reading: Cardano Goes Bullish On-Chain: Can ADA Price Catch Up? Ki Young Ju, founder of CryptoQuant, pointed to a rise in Bitcoin flowing into custody wallets, typically used by institutional players for safe, long-term storage. Such an increase indicates that big players position themselves to make what they believe could be another major price move. Whales are accumulating #Bitcoin. Six days of accumulation alerts in a row. Primarily from custody wallet inflows. Nothing has changed for Bitcoin; we’re in the middle of the bull cycle. pic.twitter.com/DE0A1Khhus — Ki Young Ju (@ki_young_ju) September 18, 2024 Dormant Wallets Spring Back To Life The trend in past months has been the revival of dormant Bitcoi ..
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