Bitcoin rebounds as whales accumulate 40,000 BTC

Bitcoin rebounded 17% to trade near $70,000 on Monday, recovering from a 15-month low below $60,000 as large investors bought the dip and added at least 40,000 BTC. Glassnode data shows addresses holding 1,000–10,000 BTC added about 22,000 BTC since Friday, while those with 10,000–100,000 BTC acquired roughly 18,000 BTC.

The whale accumulation helped drive a roughly 20% rebound to $72,000, and Binance’s Secure Asset Fund for Users (SAFU) added another 4,225 BTC. The SAFU address now holds 10,455 BTC worth $731 million, with about $239 million remaining to be converted. US-based spot Bitcoin ETFs also bought the dip, with $331 million flowing into those products on Friday.

Price action remains fragile after the rejection at the $72,000 resistance line of an ascending triangle, leaving a risk of a breakdown below the triangle’s lower trendline. The first area of interest is the $66,000–$68,000 support zone near the 200-week EMA.

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