28,000 Bitcoin Enter Accumulation, BTC Price Rebound Ahead?

Amid Bitcoin’s (BTC) price drawdowns, wallet addresses holding large amounts of the crypto recently saw huge inflows, hinting at whale activities.

This transaction is accompanied by an impressive decline in exchange transfers, raising questions about an imminent price rebound.

Bitcoin is still in the red zone, trading below key support levels. The decline comes amid a general crypto market downturn.

Subtle BTC Accumulation Spotted Onchain

On-chain data provider CryptoQuant pointed out that large investors, often called whales, are stacking BTC.

According to CryptoQuant, over 28,000 BTC, valued at over $2.6 billion, recently flowed into accumulation addresses.

Such movement is often linked to Over-the-Counter (OTC) deals and long-term holdings.

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Historically, inflows greater than 20,000 moved into addresses associated with whale accumulation suggest Bitcoin storage in custody wallets.

These OTC deals are now occurring frequently, suggesting Bitcoin’s potential recovery. Earlier this month, 30,000 BTC flowed into whale addresses, demonstrating increasing BTC accumulation from OTC vendors.

It is important to note that institutional investors prefer to purchase Bitcoin through OTC trading rather than from exchanges. This is because they determine prices and move large volumes as required.

The surge in Bitcoin whale transactions coincides with the ongoing price decline, as retail investors are forced to liquidate their positions.

Market analysts emphasize that large investors accumulate more coins during small trader withdrawals, which indicates that market prices may change soon.

Are Bitcoin ETF Investors Still Buying?

The tempered sentiment in the spot Bitcoin Exchange-Traded Funds (ETF) also contributes to Bitcoin’s declining value.

According to Farside Investors data, the eleven spot Bitcoin ETFs trading in the US have registered two consecutive days of zero net inflows.

These ETFs last recorded inflows of $70.6 million on Friday, February 14, 2025. Today, Fidelity’s FBTC clinched the top position with inflows of $94 million. BlackRock’s IBIT came second with total inflows of $22.3 million.

Bitwise’s BITB and Grayscale’s BTC saw inflows of $8 million and $6.5 million, respectively. On the other hand, Grayscale’s GBTC and Ark Invest’s ARKB recorded outflows of $47 million and $13.2 million, respectively.

Overall, the recent performance of the spot Bitcoin ETFs shows decreasing interest from institutional investors.

These investors are probably responding cautiously due to Bitcoin’s declining prices in the past few weeks.

As a result, the market will likely see more inflows as soon as Bitcoin prices recover to their previous highs or higher.

Where is the BTC Price Heading?

As of this writing, the price of BTC was $94,275, down 1.5% in the last 24 hours and 0.79% in the past week.

Despite the decline, the daily trading volume increased by over 21% to $34.4 billion. This surge suggests investors are still willing to accumulate the coin.

Although demand for the asset continues at a high level, market indicators suggest Bitcoin faces a pivot point.

Some market experts predict Bitcoin will imitate previous behavior patterns by experiencing rapid fluctuations in both high and low points. They believe Bitcoin will subsequently develop a recognized price trend.

The short-term spent output profit ratio (SOPR) data revealed that Bitcoin had a balanced position of 0.99 as its test point.

Analysts noted that the results indicate the possibility of quick moves up and down, which will ignite liquidations and short-term market panic.