Bitcoin Whales Accumulate: Market Enters New Scarcity Phase

Amidst a market correction, Bitcoin whales are seizing the opportunity to acquire BTC at discounted rates. The Puell Multiple indicator suggests that the market is adjusting to a new phase of scarcity following the April 2020 halving, creating a potential buying opportunity. Despite recent weakness, the BTC/USDT pair remains bullish on the one-day timeframe, supported by growing institutional adoption and spot ETF approvals. Tailwinds from the listing of physically backed BTC and ETH exchange-traded products (ETPs) on the London Stock Exchange further boost sentiment. The Puell Multiple has entered the discount range, historically signaling undervalued conditions and a potential rally ahead.