Following the post-halving price dip, Bitcoin whales have started accumulating Bitcoin (BTC) once again. Can whales push Bitcoin’s weekly close above $60,000?Bitcoin whales, which are large wallets holding at least 100 BTC, have accumulated over 47,000 BTC worth over $2.9 billion at current prices, noted Ki Young Ju, the founder and CEO of CryptoQuant, in a May 3 X post:The chart excludes wallets related to centralized exchanges (CEXs) and mining firms. While the metric includes spot Bitcoin exchange-traded funds (ETFs), they are not the reason behind the uptick, according to CryptoQuant’s founder:Spot Bitcoin ETF inflows have indeed turned negative. The 11 U.S. Bitcoin ETFs have recorded over $871 million of negative net outflows this week, making it the largest week of outflows since launch, according to Dune.Related: ‘Mr. 100’ buys the Bitcoin dip for the first time since halving — Is the BTC bottom in?Can BTC price close week above $60k?Bitcoin’s recent drawdown was just a “downside wick” and a weekly close above the $60,000 mark could confirm the psychological mark as new support, according to popular Bitcoin analyst Rekt Capital. The analyst wrote in a May 3 X post:Based on historical chart patterns, Bitcoin could remain in the post-halving “danger zone” for another week, according to Rekt Capital:The dovish Federal Reserve could also help Bitcoin gain more upside momentum, according to İsa Sertkaya, the CTO of Silent Protocol, who told Cointelegraph:Bitcoin traders should keep a close eye on the $60,000 mark. A move below that level would liquidate over $700 million worth of leveraged long positions across all exchanges, according to Coinglass.Related: Trader loses $68M in address poisoning scamThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
