Bitcoin Whale Transactions Hit Two-Month Peak as Price Holds $60,000

Bitcoin reclaimed $60K as whale activity hit a two-month peak, with 6,920 $100K+ transfers and 1,438 $1M+ transactions recorded.

Bitcoin moved back above $60,000 after briefly falling under the widely watched price level. The rebound came as large Bitcoin transactions increased across the network.

Santiment data showed 6,920 Bitcoin transactions worth more than $100,000. It also recorded 1,438 transactions worth more than $1 million.

The activity marked the second-largest Bitcoin whale transaction spike in two months. Traders often watch these transfers during sharp price moves.

Market analyst Michaël van de Poppe said Bitcoin was still holding near $60,000. He noted that BTC remained below its 200-week moving average.

Whale Transactions Rise After Price Weakness

Bitcoin whale transactions increased shortly after the price dipped below $60,000. 

Large transfers often draw attention because they show activity from major holders. However, they do not always prove buying or selling.

The latest figures showed strong movement in two large transaction groups. 

Santiment tracked both $100,000 and $1 million Bitcoin transfers. These groups are often used to measure whale activity.

The timing has become important for traders watching Bitcoin market sentiment. 

Whale activity often rises when prices move sharply. Therefore, analysts are now watching whether these transfers continue.

Bitcoin Holds Near $60,000 Support

Bitcoin’s return above $60,000 gave traders another level to monitor. 

The price remains close to a major area watched by market participants. A firm hold above that area could shape short-term trading views.

Van de Poppe said little changed across Bitcoin markets during the session. He added that BTC continued trading around $60,000. 

Even so, Bitcoin stayed below the 200-week moving average. That moving average is followed by many long-term traders. 

It is often used to judge broader market strength. For now, Bitcoin’s position below it keeps attention on possible resistance.

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Market Watches Accumulation Signals

The whale transaction spike has raised discussion about possible accumulation. Large holders sometimes become active when prices fall quickly. 

Still, blockchain data cannot show the full reason behind every transfer. Retail traders often become cautious after sharp market drops. 

At the same time, large holders may move funds for trading, custody, or buying. This is why traders compare whale data with price and exchange activity.

Van de Poppe also pointed to weakness in related market assets. He said MSTR continued falling and showed its lowest RSI reading since the Luna crash. 

In that setting, he described Bitcoin’s hold near $60,000 as resilient. Bitcoin’s next move may depend on liquidity, demand, and broader crypto sentiment. 

Whale activity remains a useful signal, but it does not guarantee a rebound. Traders are now watching whether BTC can reclaim higher levels in the coming days.

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