Bitcoin Hits $82,000 as Whales Accumulate: Is the Bottom in?

Bitcoin (BTC) reached $82,000 on Tuesday morning, despite a 6% drop from its early October high. It is currently holding above critical support at $80,400, indicating a correction rather than a sustained downtrend, although the futures market remains unfavorable for buyers. Notably, large Bitcoin holders are shifting towards accumulation, with wallets holding 1,000–10,000 BTC showing a net accumulation improvement from negative 62,600 BTC to positive 5,230 BTC. However, U.S. spot demand remains weak, as indicated by a negative Coinbase Premium Index and recent buyers realizing modest losses.