Crypto whales have accumulated roughly 270,000 BTC over the past 30 days, the largest monthly haul since 2013, while exchange reserves have fallen to multi-year lows. Bitfinex cited on-chain data on X, prompting bullish reactions from analysts and traders as long-term holders dominated activity in the period.
After shedding about 35% of its value in recent months, Bitcoin faced pressure from macro factors, soaring liquidations and geopolitical tensions in the Middle East that pushed energy prices higher. The coin slid from an alleged peak above $125,000 to below $70,000, with some analysts placing a floor under $60,000. Following a pause in US‑Iran hostilities and favorable shifts in on‑chain metrics, Bitcoin has slowly recovered, trimming significant losses.
On-chain data shows sell-side liquidity at roughly 8.53 million BTC—relatively low versus prior periods—while demand from accumulation addresses rose to about 275,000 BTC in the last month, signaling sustained long-term buying. That inflow appears to have encouraged further whale purchases, and charts indicate improving positions among miners and institutional traders.
Spot Bitcoin ETFs and other crypto products benefitted from the momentum: crypto investment vehicles recorded $1.1 billion of inflows last week, with Bitcoin products drawing $872 million in net flows and pushing monthly figures back into positive territory. Bitcoin trading above $73,500 has reclaimed the adjusted realized price and is positioned for a rebound, though risks remain. Altcoins such as Ethereum, XRP and Solana have also strengthened over the past two weeks, riding Bitcoin’s renewed momentum.