Analysis: BTC Whales May Be Accumulating at More Favorable Prices Amid Recent Market Downturn

According to CoinDesk, amid mounting macroeconomic pressures, BTC has dropped from its $106,000 range high to below $103,000, followed by a slight rebound. A Santiment report notes that retail investor sentiment is currently at its most pessimistic level since the announcement of Trump’s Liberation Day tariffs in early April. However, given the unusually strong bearish sentiment among retail investors, this could signal a potential price rebound based on historical patterns. In the past, Bitcoin has often rebounded shortly after similar waves of panic, as large investors frequently take advantage of retail sell-offs to accumulate at more favorable prices. The Federal Reserve’s recent decision to keep interest rates steady has further intensified market pressure. Over the past month, Bitcoin has traded within a relatively narrow range between $100,000 and $110,000. Meanwhile, on-chain indicators show that open interest on Binance is declining, suggesting that derivatives traders are continuing to deleverage. At the same time, whale wallets have been steadily accumulating since 2023, indicating that despite short-term uncertainty, large holders are still increasing their positions.