Recent data from on-chain analytics platform Santiment suggests that Bitcoin whales have started accumulating again at around $71,000. This trend has been identified as a potential indicator of a market bottom, and Santiment describes it as a 'positive reversal'. However, to confirm this uptick, retail selling needs to decrease.
The increase in whale accumulation could signal a recovery in the crypto market, which has experienced significant volatility over the past year. As more whales start buying Bitcoin, it may attract other investors and lead to a price increase.