Just checked the on-chain data and whale activity has been pretty interesting lately. During this sideways price action, the big holders have been accumulating like crazy - actually at levels we haven't seen since the FTX collapse back in 2022. We're talking about 110,000 BTC being accumulated in just one month, which is wild.

What caught my eye though is that it's not just whales doing this. Retail investors are also stacking more, which suggests the buying pressure is coming from multiple sides. When both ends of the spectrum are accumulating, that usually signals something. The demand seems pretty broad-based right now, not just concentrated among the big players.

With BTC sitting around 67K at the moment, might be worth watching if this accumulation trend continues. Feels like genuine interest rather than just speculation.