Bitcoin

<ul><li>Bitcoin&#39;s price skyrocketed to a remarkable six-week high, creating a buzz of excitement throughout the cryptocurrency market.</li><li>High-value transactions, ranging from millions to hundreds of millions of dollars, and the declining availability of BTC on exchanges pointed toward the involvement of institutional players and significant market dynamics.</li><li>The Relative Strength Index (RSI) reached an astonishing 82.83 on the 4-hour Bitcoin chart, prompting concerns of a potential market correction or consolidation, signaling a need for caution among investors.</li></ul>In a remarkable turn of events, Bitcoin&#39;s bullish run above $28,000 abruptly ended, leaving crypto enthusiasts and investors on the edge of their seats. The digital currency, steadily climbing for the past six weeks, faced a significant obstacle as its Relative Strength Index (RSI) on the 4-hour chart soared to an astounding 82.83.<a href="https://app.santiment.net/charts/yaXo8Jhu__sCl" rel="noopener noreferrer nofollow">Santiment</a>, a prominent crypto analytics firm, provided invaluable insights into the situation. They pointed out that just before Bitcoin&#39;s ascent above $28,000, four substantial transactions, each ranging from $187 million to $346 million, took place. Furthermore, the supply of Bitcoin on exchanges has been steadily decreasing from 5.99% to 5.73% since September 1st. This decrease in supply is seen as a positive sign, indicating a growing number of long-term holders and decreased selling pressure.Read full article at<a href="https://cryptotale.org/bitcoin-surges-past-28k-amidst-whale-transactions-and-supply-drop/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Bitcoin Surges Past $28K Amidst Whale Transactions and Supply Drop

CryptoTale

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