Analysis shows that major whales have recently increased their Bitcoin holdings significantly, but overall market demand still remains insufficient.

Mars Finance reports that market data shows that Bitcoin whales have recently accumulated approximately 53,000 BTC, marking the largest increase since last year. This has provided some support to prices after several weeks of selling. However, overall market demand remains relatively concentrated, raising questions about whether the market has truly entered a recovery phase. Currently, Bitcoin’s price is still about 40% below last year’s high, and some cryptocurrency ETF investors are experiencing unrealized losses. Additionally, institutional buying momentum has slowed. Analysts believe that in the absence of broader capital participation, this round of buying is more likely a phase of market stabilization rather than a sign of a trend reversal.