Analyst XWIN said Bitcoin whales have resumed accumulation while spot-demand indicators remain weak, citing CryptoQuant data in a BlockBeats report.
Whale activity
The report said holders of 1,000 to 10,000 BTC shifted from 60-day net distribution of 62,600 BTC to net accumulation of 5,230 BTC. Binance’s USDT reserves also rose in the cited data, although that does not establish that spot buying occurred.
Demand indicators
XWIN pointed to a Coinbase premium near -0.1416% and weekly exchange flows showing a net inflow of 8,428 BTC. The analyst described the market as moving toward a possible bottom but said a durable rebound would require stronger spot demand.
Source: BlockBeats flash.