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Bitcoin

Amid macroeconomic concerns and a hawkish stance from Fed officials, large Bitcoin whales accumulated $971 million worth of BTC in the past 24 hours despite a drop in trading volumes across exchanges.&nbsp; 
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 🐳 As <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> ranges tightly between $61K and $64K, large whales have made some accumulation moves over the past 24 hours. Wallets with 1K-10K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> have collectively accumulated ~$941M worth of coins, rebounding to their highest holding level in 2 weeks. <a href="https://t.co/NkYwRsc8Pd" target="_blank">https://t.co/NkYwRsc8Pd</a> <a href="https://t.co/LWAt03TgUP" target="_blank">pic.twitter.com/LWAt03TgUP</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1788242018952749331?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 8, 2024</a>
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According to on-chain data platform <a href="https://app.santiment.net/charts/btc-1k-10k-wallet-holdings-24535?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_btc_1k_10k_wallet_holdings_b_050724/&amp;fpr=twitter" target="_blank" rel="noreferrer noopener">Santiment</a>, wallets holding 1k-10k BTC acquired over 15,000 BTC, showcasing confidence in whales despite BTC dropping to $62,000. This whale accumulation is pivotal in maintaining a bullish sentiment in the crypto market. 
Meanwhile, Boston Fed president Susan Collins mentioned a longer-than-expected timeline to tackle inflation, advocating for slower economic growth, contrasting with dovish remarks from Fed Chair Jerome Powell.&nbsp; 
Bitcoin’s price hovered around $62,000, influenced by profit-taking and long position liquidations, while meme tokens like dogwifhat (WIF) and Pepe Coin (PEPE) gained leverage, leading to mixed forecasts from analysts as Bitcoin remained near $62,269. 
Bitcoin whales’ $971 million accumulation amid market downturns reflects strong confidence, suggesting a positive outlook for the crypto market despite macroeconomic concerns and Fed’s hawkish stance. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/04/bitcoin-whales-accumulated-47500-btc-worth-2-8b-in-24-hrs/" target="_blank" rel="noreferrer noopener">Bitcoin Whales Accumulated 47,500 BTC Worth $2.8B in 24 Hrs</a> 
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Bitcoin Whales Accumulate $941M as Fed Delays Rate Cuts

The Crypto Times

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