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Bitcoin Whales exchange of 3400 BTC signaling a price rise ahead
Today, the price of Bitcoin remains stable above the $66,000 mark, instilling confidence among investors. Meanwhile, recent data reveals a significant accumulation of Bitcoin from whales, totaling over 3400 BTC in one series of transactions. Notably, this increase in whale activity, despite recent price highs, suggests growing bullish sentiment in the market, fueling anticipation of a potential price rally.
Whales accumulate over 3400 BTC
Recent reports highlight notable activity among Bitcoin whales, indicating increased accumulation despite the cryptocurrency’s recent price surge. According to data from HODL15Capital, a major Bitcoin whale identified by the wallet address “15cHR…cnHxv” acquired 255 Bitcoin at an average price of approximately $65,116.
With this recent accumulation, the whale’s total holdings have increased to approximately 23,09,000 Bitcoin, representing an estimated profit of almost $986 million.
Additionally, Whale Alert reports two other significant transactions. The first transfer involved a whale identified by the wallet address “33ds4…Q1yCc”, who moved a considerable sum of 2400 Bitcoins from Coinbase exchange. At the same time, an unidentified whale, marked with the wallet address “bc1qv…m4jpf,” transferred 770 Bitcoin from Gemini.
Meanwhile, the recent increase in whale hoarding has sparked discussions within the world cryptocurrency community regarding its potential impact on Bitcoin’s price trajectory. Historically, whale activity often serves as a significant indicator of market sentiment, with accumulation typically leading to upward price movements.
As a result, many market analysts and enthusiasts are now speculating on the likelihood of an imminent Bitcoin price rally, supported by increased demand from large investors.
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Price and performance amid speculation
As Bitcoin continues to attract the attention of both institutional and retail investors, whale actions play a crucial role in shaping market dynamics. Whales’ accumulation of significant amounts of Bitcoin not only reflects their confidence in the asset, but also signals a bullish outlook for the broader market.
Given the potential for increased buying pressure resulting from whale activity, investors are closely monitoring market developments in anticipation of a potential price increase.
At the same time, the recent positive trend noted in Spot Bitcoin ETF in the United States it also boosted investor confidence. Notably, the US Bitcoin ETF has seen muted trading in recent days, after regaining momentum this week.
At the time of writing, the Bitcoin price remained close to the bay and traded at $66,239.83, while its one-day trading volume fell 27% to $30.97 billion. In particular, in the last 24 hours, the price of BTC reached a high of $66,712.43, signaling growing investor interest. Furthermore, CoinGlass data showed that the Open Interest on Bitcoin futures rose 0.46% to $32.23 billion from yesterday.
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