TechFlow news, Cryptoquant analyst Onchained stated that institutional inflows have reinforced Bitcoin's key support level at $60,000:
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New whales (holding more than 1,000 BTC with holding duration under 6 months) are accumulating Bitcoin around $60,000. This indicates that $60,000 has become a significant on-chain support level, especially following the approval of spot Bitcoin ETFs.
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Long-term whales (holding more than 1,000 BTC with holding duration over 6 months) show stable realized prices, reflecting their long-term investment strategy and strong confidence in Bitcoin’s value.
The substantial accumulation by new whales and institutional investments strengthens the $60,000 support level, while the stability of long-term whales provides enduring market confidence. Overall, $60,000 has emerged as a critical on-chain support level.
