Bitcoin recovered to $66,000 on Monday, snapping a stretch of selling that had dragged the asset lower. The bounce came as retail trading activity ground to a halt — and whales took full advantage.
Whales stepped in at $60,000
On-chain data from Glassnode shows large holders built a concentrated buy wall right at the $60,000 level. The metric indicates those addresses absorbed available supply as smaller traders pulled back, effectively preventing a deeper drop.
Retail freezes up
Retail traders, who had been offloading positions during the recent dip, stopped selling. The sudden chill in activity allowed whales to vacuum up coins without pushing price higher. The timing suggests a classic accumulation pattern — big money buying while the crowd takes a breather.
What the data says
Glassnode's tracking shows the whale cohort increased their holdings at the $60k mark, vacuuming up supply that retail had left on the table. That wall capped downside at that level before the bounce to $66,000.
For now, $60,000 looks like the floor. Whether it holds depends on whether retail stays frozen — or starts chasing again.
