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 <p class="is-style-lead">Bitcoin (BTC) has been consolidating below the $26,000 mark over the past week as the global crypto market condition turned red.</p> 
 <p>However, with the recent market-wide bullish momentum, BTC <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> and social dominance have witnessed a significant spike. Bitcoin is up by 0.03% in the past 24 hours and is trading at $25,755 at the time of writing.</p> 
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   <img decoding="async" width="3840" height="1300" src="https://cdn.thebittimes.com/images/2023/09/07/42b870f7d351ba38ef2c162eeb9d9fc1.webp" alt="Bitcoin price gains traction as whale activity hikes - 1"> 
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    BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a>, supply on exchanges and active addresses – Sep. 7 | Source: Santiment 
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 <p>The hike comes as the asset’s 24-hour trading volume has risen by 11%, reaching $12 billion. According to data provided by the market intelligence platform Santiment, the number of BTC <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> transactions, consisting of at least $100,000 worth of Bitcoin, surged by almost 110% since Sep. 3 — currently sitting at 9,004 unique transactions.</p> 
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 <p>Moreover, the number of Bitcoin daily active addresses has reached 1 million, registering an 18% hike in the past seven days. The upward momentum comes while BTC’s market cap stands at $501.6 billion at the time of writing.</p> 
 <p>On the other hand, the Bitcoin supply on exchanges witnessed a sudden surge after consistently dropping since Aug. 31. Per Santiment, there are currently 1.16 million coins on all platforms.</p> 
 <p>A report on Sept. 6 revealed that the number of crypto millionaires has reached 88,200. Of this tally, 40,500 addresses hold Bitcoin despite the asset’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> fluctuations.</p> 
 <p>The positive sentiment comes from Grayscale’s urge for its spot Bitcoin exchange-traded fund (ETF). According to a report on Sept. 6, the investment management company requested the U.S. Securities and Exchange Commission (SEC) to approve its spot BTC ETF before investors get financially harmed.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Tornado Cash creators deny laundering $1b for North Korea hackers 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-gains-traction-as-whale-activity-hikes-tbt61860.html">https://thebittimes.com/bitcoin-price-gains-traction-as-whale-activity-hikes-tbt61860.html</a></p>

Bitcoin price gains traction as whale activity hikes

TheBitTimes

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