Bitcoin whales buy the dip: $23 billion purchased in 30 days
According to data from Glassnode, Bitcoin whales have purchased 269,822 bitcoins. In the past 30 days, whales have bought more than $23 billion worth of bitcoin. This is the largest single transaction by whales within 30 days in nearly 13 years. Bitcoin has experienced a significant price correction over the past few months, and large wallets seem to be taking the opportunity to buy heavily during the price dip. Given the increase in whale purchases, let's explore whether Bitcoin's price will rebound in the coming weeks.
Will Whale Purchases Push Up Bitcoin Prices?
The movements of whales are key drivers of Bitcoin (BTC) prices. Large wallets appear to be buying the dip, which could signal an impending trend reversal. Many industry experts predict that BTC prices will soar in 2026. Grayscale believes that BTC has deviated from its 4-year cycle and is now following a 5-year cycle. This means BTC could reach new highs in 2026. Other factors that could drive BTC prices higher include lower interest rates in the United States and crypto-friendly legislation.
Bernstein holds a similar view on Bitcoin (BTC). The financial institution predicts that BTC will break the $150,000 mark in 2026 and eventually reach $200,000 in 2027. Bernstein also believes that BTC is currently in a five-year cycle.
Although Grayscale and Bernstein are optimistic about the outlook for 2026, Barclays' forecast is more pessimistic. Barclays believes that the crypto market will face more challenges in 2026. The company points out that declining spot trading volumes and weak demand are the main reasons for its pessimistic outlook.
The trend of the crypto market in the coming months remains uncertain. Macroeconomic factors, such as slowing economic growth and high employment data, could lead to a prolonged market downturn. However, if inflation data decreases, the crypto market could regain its vitality. Currently, investors are putting their funds into risk-free assets such as gold and silver. This trend may change in the coming months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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