Large bitcoin holders, referred to as whales, have started purchasing more bitcoin after a period of inactivity and profit-taking. The percentage growth of these investors' bitcoin holdings has risen from -0.25% to +2%, the highest monthly rate since December. The increase in purchases coincides with the inauguration of Donald Trump as the U.S. president, with traders expecting pro-crypto policies and possible institutional investment in the asset. Bitcoin's selling pressure has also decreased as large investors cashed in profits, while retail spot demand for bitcoin seems to be cooling off. The current unrealized profit margins for traders suggest a stable point before the next move, but demand growth needs to accelerate for a significant price rally.



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