Bitcoin correction signals whale accumulation emerge, $87,000 becomes a key support

Source: BlockMedia Original Title: Bitcoin consolidates after correction, whale accumulation detected… Attempting to recover $87,000 Original Link: Bitcoin is building a bottom and rebounding after a sharp decline, with on-chain data showing signals of accumulation centered around whale addresses. During the price adjustment phase, the movements of large investors are closely watched, and the market is also anticipating the possibility of a short-term bottom formation.

According to the data, Bitcoin is currently rebounding above $86,000, attempting to reclaim the $87,000 level. A series of short-term rebounds have appeared, and selling pressure has eased somewhat.

Based on on-chain analysis indicators, the Bitcoin balances of whales and large addresses have increased significantly over the past 90 days. Some traders interpret this as a signal that whales are beginning to buy in large quantities at low prices. Analysts state, “Whales are buying Bitcoin within the current price range,” indicating that accumulation may be occurring during the correction phase.

However, there are also opinions that not all accumulation signals should be simply interpreted as bullish signals. On-chain analysis accounts point out that the recent increase in balances may not reflect genuine buying, but could be caused by transfers between exchange wallets or internal account adjustments, creating a visual illusion. Nevertheless, the short-term price rebound, accompanied by weakening selling pressure, provides some relief to the market.

From a technical perspective, Bitcoin is still trading below the 200 EMA on the 4-hour chart, and it is premature to discuss a mid-term trend reversal. However, from a short-term structural standpoint, whether $87,000 can hold will be a key dividing point. If this price level is maintained, a technical rebound could extend to $88,000.

The market generally considers this range as part of the initial stabilization phase after an adjustment rather than a trend reversal, and whale accumulation movements may serve as support for the short-term downside. In the short term, whether whale supply and demand continue and whether prices can hold above $87,000 will be critical variables in determining the future direction.