Analysis: Large whales have recently increased their BTC holdings to support the price, but the risk of a demand gap in the market still exists.

Mars Finance reports that market data shows that Bitcoin whales have accumulated approximately 53,000 Bitcoins since last year. This move has provided some support for the price. However, overall market demand remains relatively concentrated, raising doubts about whether the market has truly entered a recovery phase. Currently, Bitcoin’s price is still about 40% below its peak last year. Some cryptocurrency ETF investors are in floating losses, and institutional buying momentum has also slowed. Analysts believe that in the absence of broader capital participation, this round of buying is more likely a phase of market stabilization rather than a trend reversal signal.