Bitcoin Whale Accumulation Resembles 2022 Structure – Can It Revive BTC Price?
Despite investor losses indicated by SOPR, Bitcoin whales are accumulating BTC, mirroring 2022 patterns, which may support the price near $66,996.Summary
Bitcoin is trading under pressure near $66,996, with the Spent Output Profit Ratio (SOPR) suggesting many holders are selling at a loss, indicating fear-driven capitulation.
Conversely, large Bitcoin holders (whales holding 10,000 to 100,000 BTC) have accumulated over 70,000 BTC this month, providing structural support that offsets some panic selling. This accumulation pattern, along with rising exchange whale outflows, resembles the structure seen in early 2022 before a bull market began, signaling long-term positioning.
However, the article cautions that historical parallels do not guarantee immediate upside; price consolidation could persist for months. For BTC to recover, it must defend the $65,000 support level while staying below the $70,610 resistance; failure to hold support risks a drop toward $63,185 or $60,000.
(Source：BeInCrypto)