Bitcoin's price has quickly recovered above $67,000, increasing by 3% after a dip to $65,200. Notably, Bitcoin whales have reached an all-time high holding of around 670,000 BTC, indicating optimistic long-term expectations. Research from BaroVirtual on CryptoQuant shows a rising trend in whale accumulation throughout 2024, surpassing levels from 2020. The accumulation phase is characterized as a calm before a potential storm in the market. Furthermore, Bitcoin ETF inflows turned positive again on October 23, signifying sustained institutional interest despite recent short-term price declines. The 'golden moment' indicator recently became bullish, successfully predicting market shifts in the past. Current technical analysis suggests that BTC price actions are following an expected pattern with potential for further upward movement if it surpasses the $67,800 resistance level.

Source 🔗