The current whale buying pattern mirrors the 2022 cycle bottom setup, indicating conviction buyers treating this price level as a floor
Too little corroboration in the last 3 days to call a trend (1 article). Watching for it to gain traction.
The current pattern of whale buying mirrors the setup observed at the 2022 cycle bottom, where conviction buyers entered as profit-taking slowed and selling pressure exhausted itself. This structural similarity suggests that large holders are treating current price levels as a durable floor rather than a temporary resting point.
Cycle bottom formations are characterized by a shift from forced selling to voluntary accumulation, which creates a change in the marginal buyer and typically marks a transition to longer-duration holding periods. When this pattern repeats across cycles, it affects the stability of price floors and influences how investors calibrate their risk management around support levels.
"Glassnode flagged the same shift, noting that bottoms form when profit taking slows and conviction buyers step in, a setup it compared directly to 2022. The buyers with the longest track records are treating this level as the floor."