Rally

Bitcoin

Major

<a href="https://zycrypto.com/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> may be approaching a major turning point as large holders ease selling pressure.
According to on-chain metrics provider Wealthmanager, Bitcoin whales have been accumulating.
Why is this the case? Data from CryptoQuant shows&nbsp;whale holdings&nbsp;shifted from a net change of -282,000 BTC in July to -39,000 BTC, an improvement of about 243,000 BTC in less than three months.
<figure class="wp-block-image size-full is-resized"><img width="680" height="383" src="https://zycrypto.com/wp-content/uploads/2026/10/image-57.png" alt="" style="aspect-ratio:1.7727272727272727;width: 100%;height:auto">
 <figcaption>Source: CryptoQuant
 </figcaption>
</figure>
Adding another layer to the story, Vanguard, an asset management giant overseeing about $13.3 trillion, recently&nbsp;bought&nbsp;$7.5 million in shares of Metaplanet, a company known for its Bitcoin treasury strategy.
This investment is noteworthy because it provides indirect exposure to Bitcoin through a publicly traded company whose strategy centers on accumulating the cryptocurrency.
<h2 id="h-is-btc-eyeing-a-major-rally" class="wp-block-heading">Is BTC Eyeing a Major Rally?</h2>
Wealthmanager also noted that Bitcoin is consolidating in a structure resembling a pattern <a href="https://x.com/Wealthmanager/status/2113903324420624690" rel="noopener noreferrer nofollow">witnessed</a> in 2023, before the apex cryptocurrency embarked on a significant rally.
<figure class="wp-block-image size-full is-resized"><img width="680" height="294" src="https://zycrypto.com/wp-content/uploads/2026/10/image-56.png" alt="" style="aspect-ratio:2.319702602230483;width: 100%;height:auto">
 <figcaption>Source: Wealthmanager
 </figcaption>
</figure>
Therefore, it remains to be seen whether BTC follows in its 2023 footsteps, with the price trading at $81,239 per CoinGecko data.
Meanwhile, bearish sentiment won’t wash away, as searches for the phrase “<a href="https://zycrypto.com/bitcoin-is-dead-searches-hit-highest-level-since-2022-as-cz-calls-it-a-buying-opportunity/" rel="noopener noreferrer nofollow">Bitcoin is dead</a>” have reached their highest level since 2022.
Binance founder Changpeng Zhao (CZ), however, has framed this pessimism as a potential buying opportunity, noting that extreme negative sentiment has historically coincided with attractive entry points.

Bitcoin Whales Are Loading BTC Again — Is a 2023-Style Mega Rally Brewing?

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