Bitcoin whales have accumulated BTC worth $ 2.3 billion in 5 weeks: data

Bitcoin whales have accumulated BTC worth $ 2.3 billion in 5 weeks: data

The price of Bitcoin has stabilized at around $ 27,000 after numerous failed attempts to overcome the psychological resistance brand of $ 30,000. It seems that the crypto asset has entered a consolidation phase. But maybe there is a chance here.

The addresses of important whales have steadily accumulated in the past five weeks because the world's largest crypto asset has been stagnated.

• In the reporting period, this cohort collected a total of 84,897 BTC (worth around $ 2.3 billion at today's prices).
• Such a step suggests that investors see the recent stagnation of the price movement as an opportunity to acquire further parts of the financial value.
• According to the analysis company Santiment, Bitcoin's price rose by almost 35 %in January when these wal addresses went into accumulation mode.

🐳 #bitcoin The most important address level for large whales has recorded a steady increase in the past five weeks and reached a total of 84,897 $ BTC During this time the prices stagnate. In their previous accumulation cycle in January, prices rose by +34.4 %. https://t.co/flhccbojza 16. May 2023

• K33 had previously speculated that BTC would reach its maximum at around $ 45,000, and referred to the similarity of its price development with that of the increase in early 2019.
• Already in the middle of the month, the largest crypto-asset still has to break through its resistance brand of $ 30,000. Nevertheless, there is another factor that could possibly serve as a catalyst-the movement of a large number of bitcoins from crypto exchanges.
• Prominent analyst ali Martinez observed in the last 24 hours more than 20,000 BTC Have left platforms, which indicates that market participants expect a price increase.
• While the forecast of $ 45,000 may not arrive this month, since the short-term prospects for Bitcoin seem to be dark, the long-term on-chain indicators on the other hand signaled bullish developments and resemble the early stages of the previous bull markets. As found in the latest report by Bitfinex.