Bitcoin Whales Go on $12B Shopping Spree—Bull Market Buffet or Bubble Fuel?

On-chain data reveals crypto’s megaholders are gorging on BTC at $65k—just in time for the halving party. Are they seeing a 2021 replay or betting against Wall Street’s ’overbought’ warnings?

These deep-pocketed traders added 180,000 BTC last month alone—enough to make a central banker sweat through their bespoke suit. Meanwhile, retail FOMO still lags 70% behind peak levels.

Cynical take: When whales and Goldman Sachs both claim to ’buy the dip,’ someone’s about to become sushi.

Meanwhile, data from CryptoQuant revealed the highest BTC outflow from centralized exchanges in two years when analyzed using the 100-day moving average.

"A review of historical patterns suggests that this could imply re-accumulation of assets by investors," commentators at CryptoQuant said.

Outflows from centralized exchanges are taken to represent investor preference for direct custody of their coins, a sign of long-term holding strategy.