Analysis: New whales are accumulating Bitcoin at the $60,000 price point, which has become an on-chain support level

ChainCatcher news, according to CryptoQuant data, new whales (defined as addresses holding more than 1,000 BTC with a token holding period of less than 6 months) have been strategically accumulating Bitcoin at a price of around $60,000.

Supported by institutional investment and the approval of Bitcoin spot ETFs, the significant accumulation by new whales has reinforced the $60,000 support level. Meanwhile, the stability exhibited by long-term whales provides a foundational layer for confidence and a strategic holding pattern.

In summary, based on the accumulation of new whales and the stability of long-term holders, the $60,000 price point has become a key on-chain support level.