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<ul class="news-points"> 
 <li>Bitcoin whales were behind the recent price rally in the crypto market.</li> 
 <li>Purple Whales converted a $20 million Bitcoin bid ladder into market orders to trigger the rally.</li> 
 <li>A Brown Whale joined the buying movement with a $2 million buy order, as seen on the FireCharts CVD.</li> 
</ul> 
According to Buffinton of the Altcoin Buzz <a href="https://www.youtube.com/watch?v=4FAI5m-ltaU" target="_blank" rel="noopener noreferrer nofollow">YouTube</a> channel, multiple analysts identified Bitcoin whales to be behind the recent price surge. He quoted Material Indicators, a crypto market data service provider, that identified Purple Whales’ decision to convert a $20 million Bitcoin bid ladder into market orders as the trigger to the recent price rally. 
Material’s Indicator noted that Purple Whales did not stop there but continued buying upwards of $50 million. The market data provider also observed a Brown Whale who joined the Bitcoin buying movement with a $2 million buy order, as seen on the FireCharts CVD. 
Buffinton observed a significant movement in Bitcoin price in the past few days. The YouTube presenter noted that Bitcoin rallied from a low of $28,700 all the way to $30,200 before consolidating at a crucial level of $29,800. However, he thinks dipping lower to the $29,250 level … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/analysts-identify-bitcoin-whales-to-be-behind-the-recent-rally/">Analysts Identify Bitcoin Whales to be Behind the Recent Rally</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Analysts Identify Bitcoin Whales to be Behind the Recent Rally

Coin Edition

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