Bitcoin shows fresh accumulation as whales buy near $60,000 support

On‑chain data from CryptoQuant indicates that Bitcoin’s 365‑day PnL index continues to decline, a pattern historically linked to accumulation phases rather than market peaks. The platform notes that large holders, or “whales,” stepped in on June 5, purchasing roughly $98.9 million of BTC at about $59,734, then booked a quick $3.5 million profit as the price rebounded. These moves reinforce the key psychological support level around $60,000.

Separate analysis from Glassnode highlights a shift in ownership: the RHODL Ratio, which compares holdings of long‑term investors to newer participants, rose to a near‑record 6.5 before easing, reflecting a modest transfer of Bitcoin from older wallets to newer buyers. Prices have stabilized near $62,000, down about 50 % from the October 2025 peak of $124,000, but without a major capitulation. Analysts caution that future Federal Reserve policy could affect risk assets, yet the current distribution suggests the market is in a quiet consolidation rather than a panic‑driven sell‑off.