Bitcoin Whales and Sharks Resuming Purchases...Sign of Rebound Amid Decline?

# Large Investors Resume Bitcoin Purchases After Price Drops to $8,200 (New York – Jae-hyeong Park, Correspondent) – Bitcoin (BTC) prices have witnessed purchasing activities from large investors resuming after a recent drop to $8,200, according to a report by Cryptopolitan on the 10th (local time). # Price Rebound Reflects Yet to Materialize Blockchain data analytics firm Santiment reports that Bitcoin’s price declining to as low as $8,200 has triggered renewed buying activities from whale and shark wallets. Despite this buying trend, it has yet to exert a direct influence on prices. However, wallets holding more than 10 BTC have notably switched into accumulation mode. Since February 20 of this year, whale and shark wallets have driven Bitcoin’s price down by selling off portions of their holdings. This selling wave persisted until early March, and since then, these wallets have resumed purchasing, hinting at a potential continuation of the current bull market. In recent days, whale and shark wallets have collectively acquired a total of 5,000 BTC. This acquisition suggests that 'smart money' investors are also viewing these price adjustments as buying opportunities. Currently, more than 152,000 addresses hold over 10 BTC each, which is seen as an important movement indicating a slight but meaningful increase in demand. # Bearish Trend Persists Amid Bullish Signals Yet, Bitcoin’s price remains insensitive to short-term bullish signals. During European trading hours, Bitcoin fell to $8,187.27, continuing its bearish trend. The market is observing ongoing liquidation of long positions, with spot buying failing to offset this, contributing to the downward price movement. The Bitcoin Fear & Greed Index has plunged back to 20 points, signaling 'Extreme Fear'. Historically, extreme fear among investors tends to result in whales repurchasing Bitcoin at lower prices. # Ongoing Selling Pressure from New Investors Analyzing Bitcoin holding patterns, it appears wallets older than three months are either maintaining or gradually increasing their holdings, whereas wallets less than one month old have been the most active sellers over recent weeks. This indicates capitulation from short-term investors. Currently, wallets aged between one to three months account for 9.36% of the total Bitcoin supply, emerging as the largest new investor group. This points to asset reallocation by new investors at a time when whales from previous bull markets have exited the scene. While Bitcoin’s price faces short-term downward pressure, persistent accumulation by long-term holders may provide a positive impetus for sustaining a medium to long-term bull market.