Bitcoin whales, or large holders of the cryptocurrency, are re-entering the market after a period of profit-taking earlier in January. CryptoQuant data reveals a significant boost in the monthly percentage growth of Bitcoin holdings among these investors, rising from -0.25% on January 14 to +2% by January 17, marking the highest rate since mid-December. This bullish activity is reportedly influenced by Donald Trump's recent inauguration as U.S. president, with expectations of pro-crypto policies potentially attracting institutional investment. Despite this accumulation phase, retail demand for Bitcoin appears to be waning, with current growth dropping from 279,000 Bitcoin in early December to 75,000. The current market dynamics, particularly the near-zero unrealized profit margins, suggest a possible price floor that could support future price movements. However, for prices to see substantial rallies, a resurgence in demand growth is essential.

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