Investors again collecting Bitcoins (BTC) despite earlier price declines. Reports indicate that around $1.3 billion in Bitcoin has been withdrawn from various cryptocurrency exchanges, signaling renewed interest and confidence in the leading cryptocurrency.

Bitcoin accumulation frenzy returns

Data from IntoTheBlock revealed a up-to-date accumulation trend among Bitcoin investors. According to the financial services platform, about $1.29 billion BTC has left various centralized exchanges (CEX) last week.

This development signals a change in investor attitude from previously bearish biasJust in September of this year, Bitcoin experienced a major price fluctuations and volatility, which has investors worried about the future prospects of the cryptocurrency. There were even liquidation reports on the market, with analysts noticing that September is historically a bearish period for the cryptocurrency market.

Because Bitcoin is now gaining up-to-date momentum and experiencing price augment above $60,000Investor interest in cryptocurrency has increased. According to the IntoTheBlock report, most Bitcoin Outflowsof 12,420 BTC from cryptocurrency exchanges took place on Tuesday, September 10. At the time, the cryptocurrency was trading below $60,000, suggesting that investors were accumulating expectation of potential price increases.

Apparently, Bitcoin holders have started selling your shares and taking profits around Friday, September 13. The ITB data also revealed that 82% of BTC investors are currently making profits, while 13% are in losses. Interestingly, this accumulation trend has extended its influence towards Bitcoin WhalesIn a post on X (formerly Twitter) on September 14, popular cryptocurrency trader Ash Crypto, exposed high Bitcoin transaction involving the purchase of 1,062 BTC worth $64 million by an anonymous whale.

With the up-to-date addition of Bitcoin, the unidentified whale now holds a whopping 10,043 BTC, which is worth about $600 million at the exchange rates at the time. This move by the whale is also a sign that the market is moving into more bullish and positive attitudeThis trend is common after a market correction or a cryptocurrency decline, where prices have has reached a noticeable low level.

Will BTC price reach $75,000?

The last a jump in bitcoin accumulation indicates that investors are currently looking favorably at the cryptocurrency, probably expecting price augment in the future. This up-to-date trend has the potential to trigger a rally to up-to-date all-time highs near $75,000 if it continues.

Earlier this year, when bitcoin accumulation reached one of its highest levels, the price of the cryptocurrency skyrocketed to its current level all-time high above $73,000This upward development could repeat itself as demand and interest in the cryptocurrency increases.

Even though the price of Bitcoin has surged to over $60,000 over the past week, it is currently down 2.37% at $58,739, according to CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com