BTC on-chain activity has increased, with trading volume exceeding 180,000 BTC for the first time in seven months.

• BTC managed to stay in the $62,000 price zone.

Bitcoin [BTC]  whales have increased their activities over the past few days, accumulating more BTC as the market faces price uncertainty.

This increase in whale activity coincided with the return of dormant Bitcoin to circulation, signaling a potential shift in market dynamics.

Bitcoin whales are accumulating more BTC

 According to data  from Lookonchain, it has been revealed that Bitcoin whales  have become more active in the last two days.

One of the tracked addresses accumulated 250 BTC worth approximately $15.6 million on October 8 .

Following this, the same address purchased another 750 BTC worth approximately $46.8 million, bringing the total amount to 1,000 BTC within 24 hours.

Interestingly, this whale address had been dormant for the past six months after raising over 10,000 BTC earlier this year.

The fact that such large investors have started buying again may be a sign of increasing confidence in the future potential of the market.

Increased activity encourages on-chain movements

According to data from Santiment,  the recent surge in Bitcoin  whale activity has also led to a noticeable increase in BTC trading volume.

The analysis shows that trading volume has risen above 180,000 BTC, worth more than $37 billion . This volume increase is particularly notable as it is the first time such high levels have been reached in seven months.

Additionally, the consumption-by-age metric, which tracks the movement of long-held BTC, has risen above 60.7 million BTC , a level not seen in months .

Historically, the return of dormant BTC to circulation has been a positive signal for future price action.

This increase closely coincides with the regrouping of Bitcoin whales and is a sign of a potential shift in the market.

BTC shows signs of stability

Despite the increased whale activity, Bitcoin’s price remains relatively stable. A daily chart analysis shows that Bitcoin closed the last trading session slightly lower, trading at around $62,122, incurring a 0.13% decline.

However, the current trading session is seeing a minor recovery, with Bitcoin trading at around $62,240 and up less than 1%.

The continued accumulation of Bitcoin whales is a promising sign that could lead to a positive change in the price trend in the near future.

As Bitcoin whales become more active and long-held BTC comes back into circulation, the market may be preparing for a change.

While the price has not yet seen a significant increase, the renewed interest from major investors suggests that the market could soon gain more positive momentum.