Bitcoin

April

Hedge

Rekt

The largest cryptocurrency <a href="https://en.coin-turk.com/us-inflation-report-impacts-decoding-its-potential-effect-on-bitcoin-and-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/bank-failures-abound-is-another-looming-what-implications-for-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) faced strong selling pressure after retreating from the $28,000 level at the beginning of the week, and is currently trading at $27,094 with a market cap of $528 billion and a 1.81% decrease. Despite the selling pressure in the market, Bitcoin is outperforming altcoins. Thanks to the whales who continued to accumulate strongly even during last week’s sales, the largest cryptocurrency managed to increase its share in the cryptocurrency market to over 50%.
<h2 style="text-align: justify" id="strong-bitcoin-whales-and-institutional-accumulation-strong">Bitcoin Whales and Institutional Accumulation</h2>
<a href="https://en.coin-turk.com/what-are-wrapped-tokens/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> analyst Ali Martinez, closely followed by crypto investors, reported that whales have bought approximately 20,000 BTC worth $550 million since the beginning of October.
<img decoding="async" class="aligncenter wp-image-265265" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-Balinalari-BTC.png" alt="" width="553" height="448">
Despite the current selling pressure, Bitcoin continued to attract institutional inflows last week. For the second consecutive week, digital asset investment products saw inflows of $78 million. In particular, BTC managed to take the lion’s share with a total inflow of $43 million. However, some investors saw the recent price increase as an opportunity to strengthen their short positions in Bitcoin, resulting in an inflow of $1.2 million in short positions during the same time period.
Market analysts expect volatility in Bitcoin’s price to increase in the coming months as the halving of block rewards, expected to take place in April 2024, rapidly approaches. Crypto analyst Rekt Capital warned investors that there is a possibility of Bitcoin dropping to $20,000 before starting its next bull run.
<h2 style="text-align: justify" id="strong-famous-investor-points-to-bitcoin-as-a-hedge-tool-strong">Famous Investor Points to Bitcoin as a Hedge Tool</h2>
Amid increasing geopolitical tensions and the ongoing Israel-Hamas conflict, top investors have once again started turning to Bitcoin as a potential hedge tool. Paul Tudor Jones, founder of a leading hedge fund and one of the richest names in the world, expressed concerns about factors such as geopolitical risks and the increasing debt of the US government, which make stock investments less attractive.
Jones highlighted that Bitcoin and the precious metal gold are attractive investment alternatives. Furthermore, the famous investor announced that he aims to allocate 5% of his assets to BTC in 2021. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-whales-on-the-move-20000-btc-purchased-in-10-days/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-whales-on-the-move-20000-btc-purchased-in-10-days/</a>

Bitcoin Whales on the Move: 20,000 BTC Purchased in 10 Days!

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