Accumulate

Bitcoin

Bitcoin whales continue to accumulate significant amounts of BTC despite the recent price drops. However, a closer look at exchange flows reveals an interesting contrast in sentiments. What is driving this accumulation and why is more BTC flowing into exchanges? Let’s delve into the details.
<h2 style="text-align: justify;" id="bitcoin-whales-accumulate-over-22-000-btc-despite-market-volatility">Bitcoin Whales Accumulate Over 22,000 BTC Despite Market Volatility</h2>
In the face of recent price fluctuations, Bitcoin whales have demonstrated a determined stance on accumulation by adding over 22,000 BTC to their holdings in the past week. This wave of accumulation emerges in an environment where BTC was trading around $42,400 and showing signs of a slight recovery.
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-290160 size-full alignnone" src="https://coin-turk.com/wp-content/uploads/2023/12/santiment-kripto-cointurk.png" alt="" width="2048" height="693">
Despite the overall increase in whale addresses, a nuanced analysis of BTC supply distribution reveals interesting patterns. Data from Santiment indicates fluctuations in addresses holding 1-10 thousand BTC, with certain points throughout the week experiencing sales. The number of addresses dropped slightly from 1,932 to 1,928 on December 14th.
<h2 style="text-align: justify;" id="exchange-flows-more-btc-entering-exchanges-amidst-accumulation">Exchange Flows: More BTC Entering Exchanges Amidst Accumulation</h2>
Contrary to the trend of accumulation, CryptoQuant’s Bitcoin exchange flow analysis highlights an increase in BTC entering exchanges since December 5th, with a notable exception on December 14th. This increase in exchange inflow suggests a rise in selling activity, consistent with the fluctuations observed in whale accumulation patterns. During the analysis, the net exchange flow was recorded at approximately 805 BTC.
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-290162 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/Bitcoin-borsa-akisi-cointurk.png" alt="" width="2048" height="1290">
BTC fell to $41,450 on December 15th, experiencing a decline of over 2.5%, while there has been a recent attempt at recovery. As of the latest data, BTC is trading around $42,240, with a modest increase of less than 1%.
Despite the downward trend indicated by the MACD metric, the overall sentiment continues to maintain a bullish inclination. The Relative Strength Index (RSI) being just below 60 suggests a decline in the bullish trend, yet the overall outlook remains positive.
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-290163 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-usdt-cointurk.png" alt="" width="1793" height="785">
The continuation of whale accumulation amidst market fluctuations points to a potential long-term strategy. Whales, aligning their positions with a positive long-term outlook for BTC, could be anticipating an upcoming price increase. As market dynamics continue to evolve, monitoring these accumulation trends becomes crucial for understanding the broader trajectory of Bitcoin. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-whales-continue-accumulating-despite-market-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-whales-continue-accumulating-despite-market-fluctuations/</a>

Bitcoin Whales Continue Accumulating Despite Market Fluctuations

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