Channels

Wednesday

Bitcoin

Read

<div class="coingape"> 
 <p>On-chain data shows some optimism with Bitcoin whales back in action after dumping last week. On-chain data provider Santiment explains that Bitcoin surged to a peak of $26.8K on Wednesday as significant whale and shark addresses are once more increasing their holdings. Among the 156,660 wallets holding 10 to 10,000 BTC, they’ve gathered a total of $308.6 million since August 17th.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
  <div id="my-banner-ad" class="d-inline-block"></div> 
 </div> 
 <figure id="attachment_157490" aria-describedby="caption-attachment-157490" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="size-full wp-image-157490" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%202795%201804'%3E%3C/svg%3E" alt="" width="2795" height="1804" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/24/a2b2f5f598ae113454ed075c2b772ff0.webp"> 
  <noscript> 
   <img decoding="async" class="size-full wp-image-157490" src="https://cdn.thebittimes.com/images/2023/08/24/a2b2f5f598ae113454ed075c2b772ff0.webp" alt="" width="2795" height="1804"> 
  </noscript> 
  <figcaption id="caption-attachment-157490" class="wp-caption-text">
    Courtesy: Santiment 
  </figcaption> 
 </figure> 
 <p>On the other hand, some reports suggested that Robinhood has been accumulating $3 billion worth of <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>s over the last 3 months. A secret wallet has accumulated this quantity which analysts believe belongs to Robinhood.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">The secret wallet that bought $3,000,000,000 worth of #<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> in the last 3 months belongs to Robinhood.</p> 
  <p>While you panicked, they bought pic.twitter.com/pEES8e1FJf</p>  
  <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
   <div class="NewTrendin dsdsd m-on"> 
    <h5> 
     <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
     </svg>Recommended Articles </h5> 
    <div class="TrendSList owl-carousel owl-relatedpostar"> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/22/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/22/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/22/fa6133ad6e87ee1c4776d3849180d46b.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/22/fa6133ad6e87ee1c4776d3849180d46b.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/22/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/22/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/22/e59946958a3ce000f279efb2e1b9c852.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/22/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/22/48cfebc8a0493db9937bed5dd005ee19.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/22/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
     </div> 
    </div> 
   </div> 
  </div> 
  <p>— Crypto Rover (@rovercrc) August 23, 2023</p> 
 </blockquote> 
 <p></p> 
 <p>Although Robinhood’s intentions for the substantial <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> holdings remain uncertain, this finding underscores the company’s strong interest in the digital asset sector. Robinhood has been actively striving to attract more cryptocurrency investors to its platform. This revelation is likely to generate increased attention from the crypto community.</p> 
 <h3 id="bitcoin-price-surge-a-dead-cat-bounce-or-recovery">Bitcoin Price Surge: A Dead Cat Bounce or Recovery?</h3>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>It’s too early to say whether <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> is changing course after Wednesday’s price bounce. While the <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> whales have resumed accumulation, short-term holders have been offloading heavily over the last week.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">#Bitcoin | Capitulation is in the air as short-term $BTC holders have been offloading heavily this past week. pic.twitter.com/fgBqvoOQrU</p> 
  <p>— Ali (@ali_charts) August 23, 2023</p> 
 </blockquote> 
 <p></p> 
 <p>Also, the Bitcoin price momentum looks overall bearish on the technical charts. The recent rejection at this level, combined with the 50-day moving average around a similar price, has triggered a notable downward movement. Bitcoin (BTC) has breached the crucial 200-day moving average, situated around the $28,000 mark. This holds significant trend information, and a dip below this level suggests a possible shift towards bearish sentiment.</p> 
 <p>Although the RSI indicator has rebounded from oversold territory, it remains below the 50% threshold. This implies that while the current price is moving within a range, the overall momentum is still leaning towards bearish sentiment. As a result, there’s a likelihood that the market might test the $25,000 zone once again in the near future.</p> 
 <p>Crypto analyst IncomeSharks further warned that Bitcoin should form three green candles. Only then, we can confirm the price recovery.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Every #<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a>    pump has retraced and dropped lower since June. We haven't seen 3 consecutive green candles since June. Too many getting excited on a single candle when we have seen ZERO follow since June</p> 
  <p>— IncomeSharks (@IncomeSharks) August 23, 2023</p> 
 </blockquote> 
 <p></p> 
</div>

BTC Price Jumps Above $26,700, A Dead Cat Bounce or Recovery

Table of Contents

TheBitTimes

Other articles published on Aug 24, 2023

Binance dubs barred Russian banks on its platform as ‘Yellow’ and ‘Green’ cards

Crypto Lender Ledn Partners With Parallel To Offer Fiat-Free Real Estate Purchases in Cayman Islands

Ex-Correctional Officer’s Crypto Scam Targets Law Enforcement: An Astonishing Betrayal Unveiled

Binance Announces Helmet Design Contest in Partnership with Alpine F1 Driver Pierre Gasly

Dubai's VARA allows staking for regulated digital asset custodians

EBAY Stock Awaits Trend Reversal; A 10% Drop Seen in a Month

Join our free newsletter for daily crypto updates!