Bitcoin’s Resilient Bullish Trend Amidst Accumulation by Whales

Bitcoin‘s price continues to hold above $30,000 and is making higher highs, which is encouraging. The fact that the BTC price has risen almost 2-fold from levels around $15,550 signifies that the bottom has been seen in the bear markets. However, more is needed for the bull season. Volumes are still quite weak. But the story of the new season is already forming. The Current Status of Bitcoin Whales Bitcoin whales and sharks have accumulated 71,000 BTC in the past three weeks when the asset’s value has largely been “boring”. American institutions increased their investments in the flagship asset during this period. Large investors returned to the field following the applications for spot Bitcoin ETF. Blockchain analytics firm Santiment’s data shows that addresses holding between 10 and 10,000 BTC have been very active in the past few weeks. These addresses have accumulated more than 71,000 BTC valued at $2.15 billion […] The post Bitcoin’s Resilient Bullish Trend Amidst Accumulation by Whales appeared first on COINTURK NEWS.