Ramazan Eles 
A Bitcoin (BTC) whale has begun preparing for the month of October, often referred to as “Uptober” by the crypto community. Whether or not historical trends will repeat remains a hot topic of speculation.
Data shows that September is traditionally a month of sharp declines for BTC prices, while October often marks the start of a recovery phase.
Historically, September has been challenging not only for cryptocurrencies but for financial markets in general. Many investors witnessed downturns across various asset classes. However, October, a month known for price rebounds, is viewed as a more optimistic period by investors. The term “Uptober” has been coined to reflect this.
On-chain data suggests that a whale has already started accumulating Bitcoin ahead of October.
Bitcoin shows strength in October! According to data from Coinglass, Bitcoin has delivered positive returns in 9 out of the last 11 Octobers, with an average rise of around 60%.
Coinpedia provides the following insight:
“The data indicates that crypto investors can anticipate the return of ‘Uptober,’ a historically strong period for BTC. However, with September beginning on a negative note, BTC and the broader crypto market could continue facing downward pressure.”
In the past 11 Septembers, Bitcoin has closed in the green only three times, and it’s expected to remain in a downward trend this year as well. Analysts suggest that if the Federal Reserve cuts interest rates, looser monetary conditions could trigger a bull market after October.
Bitcoin whale continues to accumulate! As speculation grows around a potential October rally, whale activity has intensified. According to a report from Lookonchain, a Bitcoin whale, despite already holding over half a billion dollars’ worth of BTC, continues to buy more.
This particular whale recently purchased 322 BTC, valued at approximately $19 million. Over the last five days, they’ve spent $136 million to acquire a total of 2,322 BTC. With a bullish outlook, the whale, who is thought to be a maximalist, now holds 8,881 BTC worth around $523 million.
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