Bitcoin

Although things have looked <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bearish</a> in the wider <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency industry</a> lately, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) is demonstrating patterns that could overturn the sentiment for both the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset and the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> market as a whole, particularly concerning its largest holders.As it happens, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has been witnessing a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> divergence between its accumulating <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whales</a> and falling prices in which whale holdings have been increasing by approximately 1,000 BTC per day, according to the <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart pattern</a> analysis shared by <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> market intelligence platform <a href="https://finbold.com/guide/best-crypto-data-websites/#Santiment" rel="noopener noreferrer nofollow">Santiment</a> in a <a href="https://twitter.com/santimentfeed/status/1667785187172966401" rel="noopener noreferrer nofollow">tweet</a> on June 11.Indeed, the maiden digital asset’s whales, or <a href="https://finbold.com/guide/crypto-wallets/" rel="noopener noreferrer nofollow">crypto wallets</a> that own between 100 and 10,000 BTC, have added 57,578 more BTC to their holdings as the price has dropped by 10% since April 9, creating this bullish divergence and indicating “a strong rebound can occur,” the platform’s team specified.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/637d5a1d1bd74ab2b56515349d295975.jpg" />Bitcoin held by whales versus price. Source: <a href="https://twitter.com/santimentfeed/status/1667785187172966401" rel="noopener noreferrer nofollow">Santiment</a><h2 id="header-0">Bitcoin price analysis</h2>As things stand, Bitcoin has already started to show signs of recovery, having grown its price by 0.35% in the last 24 hours as it tries to reverse the losses of 3.15% on its weekly chart and 3.76% over the past month, currently trading at $25,840, as per data retrieved on June 12.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f18dc5ee82a4435aba0036275e885f2d.png" />Bitcoin 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>In the meantime, many experts have argued that Bitcoin’s next possible price target could stand at the $100,000 level at some point in the future, and Google’s Bard, the latest artificial intelligence (<a href="https://finbold.com/topic/artificial-intelligence/" rel="noopener noreferrer nofollow">AI</a>) offering, has <a href="https://finbold.com/we-asked-google-bard-what-factors-can-drive-bitcoin-to-100k-heres-what-it-said/" rel="noopener noreferrer nofollow">recognized</a> this possibility as well.Specifically, the AI tool has listed increased mass adoption, growing institutional <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investor</a> interest, and government adoption of Bitcoin as a legal tender as factors that could help the largest digital asset by market capitalization reach the suggested threshold.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin whale ‘hodling’ sparks hope for BTC price rebound

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