Bitcoin whale activity is set to hit a yearly high with transactions surging as Bitcoin falls under $90,000. Over 102,000 whale transactions exceeding $100,000, and 29,000 over $1 million have been tracked by Santiment. Some analysts blame whale selling for the market pullback, but large holders have been accumulating since late October.

Whales are buying the dip as news cycles and geopolitical events drive spikes in whale activity. Swyftx’s lead analyst Pav Hundal notes a record high buy-to-sell ratio, with investors stepping in to buy the dip. Bradley Duke of Bitwise Asset Management reports that whales are buying the dip as fear and panic grip the market.

Investment firm Multicoin Capital’s Tushar Jain sees patterns suggesting a big forced seller in the market, predicting an end to the systematic selling soon. BitMine chairman Tom Lee and Bitwise Asset Management CIO Matt Hougan predict Bitcoin could hit a bottom this week, offering a potential buying opportunity.

Read more at Cointelegraph: Crypto Whales Increase Buying as Bitcoin Drops and Market Fear Rises