CryptoQuant Analyst Predicts Bitcoin Whale Accumulation, Potentially Leading to V-Shaped Rebound

CryptoQuant analyst, Mignolet, author of "Investment Secrets of Bitcoin Whales", believes that accumulation whales are poised to make bullish movements. This prediction is based on the Unspent Transaction Output (UTXO) in profit, which has been breaking away from its low point, currently sitting at 80.7%. Mignolet suggests that accumulation whales might respond to the current market fear, potentially leading to a V-shaped rebound. This echoes the situation in October 2023 when Bitcoin gained upward momentum after a similar UTXO pattern. The analyst's optimism comes amidst a recent bearish storm in the global crypto market. The market capitalization plunged from $2.7 trillion to $2.34 trillion in the past 30 days. Bitcoin briefly dropped to a one-month low of $58,402 on June 24, with spot Bitcoin ETFs in the U.S. experiencing significant outflows.