The latest data from the cryptocurrency analysis company IntoTheBlock shows that Bitcoin whales have started actively buying the largest cryptocurrency after the price fell below the $60,000 mark, indicating strong buying interest from major holders. Last month, wallets holding over 0.1% of the total Bitcoin supply saw a net inflow of around 55,000 BTC.
The following image shows the net flow of wallets holding over 0.1% of the Bitcoin supply. Data shows that in the past 30 days, large Bitcoin whales have had a positive net flow of over 55k $BTC, signaling accumulation. The peak of this accumulation is the strongest seen when…
Yesterday, the pseudonymous cryptocurrency analyst Ali Martinez pointed out “early signs” of a rebound in Bitcoin. This accumulation phase seems to come after a three-month distribution. Ki Yong Joo of CryptoQuant recently mentioned that the sideways movement in Bitcoin’s price could be a good buying opportunity for investors.
He believes that despite negative market sentiment, Bitcoin is still in an upward trend. Read more here: 
Has the Bitcoin bull market ended? – Thoughts from CryptoQuant analysts.
On Wednesday, Bitcoin dropped to an intraday low of $59,120, prompting renowned financial expert Peter Schiff to predict a significant pullback. However, the bulls are determined to hold the key level of $60,000. 