Bitcoin

Spot

<ul class="list-ic vertical">
 <li><span>1</span> <a>Bitcoin (BTC) just shot past a trendline, and it doesn’t look like it’s going to stop any time soon.</a></li>
 <li><span>2</span> <a>Switzerland’s largest bank revealed its investment in Spot BTC ETF, a positive sign for institutional investment.</a></li>
 <li><span>3</span> <a>A large amount of BTC was transferred from Binance to an unknown wallet is the latest bullish sign from the whales.</a></li>
</ul>
<p>A whale recently transferred 1108 BTC coins from the Binance exchange to an unknown wallet. It means that the whale plans to hold it, which is quite a bullish signal in Bitcoin.</p>
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  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 1,108 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (69,536,658 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to unknown wallet<a href="https://t.co/xUnLpb4Kve" rel="noopener noreferrer nofollow">https://t.co/xUnLpb4Kve</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1789965267612713109?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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<p>Meanwhile, another transaction occurred with 2000 BTC from an unknown wallet to a different unknown wallet. It has been widely recognized that such transactions tend to distract the market from other burning issues. However, these kinds of transactions generally do not significantly impact the market.</p>
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  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 2,000 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (125,850,507 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/7xW94sF4wQ" rel="noopener noreferrer nofollow">https://t.co/7xW94sF4wQ</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1790028789826605155?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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<p>Notably, these tweets highlight changes in whale sentiment for bitcoin. This could mean these transactions might be more than just market noise.</p>
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  <p lang="en" dir="ltr">Bitcoin is at $62,600<br><br>– Banks are buying<br>– Roaring Kitty is back<br>– Election in 6 months<br>– nations are buying<br><br>How can anyone be bearish?? <a href="https://t.co/NuCiBcnDNo" rel="noopener noreferrer nofollow">pic.twitter.com/NuCiBcnDNo</a></p>— borovik (@3orovik) <a href="https://twitter.com/3orovik/status/1790086965288657144?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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<h2 class="wp-block-heading" id="strong-x-shows-positive-sentiments-for-btc-strong"><strong>X Shows Positive Sentiments For BTC</strong></h2>
<p>Borovik tweeted that anyone could be bearish, as banks and the nation are buying BTC, and the election is in 6 Months.</p>
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  <p lang="en" dir="ltr">NEW: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e8-1f1ed.png" alt="🇨🇭" class="wp-smiley" style="height: 1em; max-height: 1em;"> Switzerland's largest bank UBS Group AG discloses spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF holdings in new SEC filing. <a href="https://t.co/xtBH1F1qc0" rel="noopener noreferrer nofollow">pic.twitter.com/xtBH1F1qc0</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1790146167713493479?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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<p>Additionally, Bitcoin magazine verified his tweet. The news agency tweeted this breaking news in detail: Switzerland’s largest bank, UBS Group AG, has revealed its SPOT <a href="https://www.thecoinrepublic.com/2024/04/29/australias-securities-regulator-likely-to-approve-spot-bitcoin-etfs/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF</a> holdings in its new SEC filing.</p>
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  <p lang="en" dir="ltr">El Salvador bought another <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> today <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1f8-1f1fb.png" alt="🇸🇻" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>President Bukele said they'll buy 1 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> every day "until Bitcoin becomes unaffordable with fiat currencies." <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/s08iYN6dTW" rel="noopener noreferrer nofollow">pic.twitter.com/s08iYN6dTW</a></p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1790097702157459538?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 13, 2024</a>
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<p>They also shared that El Salvador has bought another bitcoin, and the nation’s president, Bukele, said they would buy 1 BTC every day until the crypto asset becomes unaffordable to buy with fiat currencies.</p>
<h3 class="wp-block-heading" id="strong-analysts-are-positive-on-btc-can-it-reach-100k-strong"><strong>Analysts Are Positive On BTC, Can It Reach $100K?</strong></h3>
<p>BTC had ended up in a wedge after the rally. However, the top crypto revealed a sign of recovery as it spiked from the wedge’s bottom trendline and at press time, was seen consolidating at a crucial support level of around $60,000 on the daily chart.</p>
<p>If Bitcoin manages to surpass the wedges above the trendline with a thrust, it could be setting up for a colossal surge, essentially breaking out of the falling wedge. It would gear up the rally to crack the resistance level (like $65,480, $67,500, and $72,470) and could also rocket to new peaks.</p> 
<p><a href="https://in.tradingview.com/chart/BTCUSD/GcKBv0h0-the-Bitcoin-asset-price-could-bounce-back/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>At press time, BTC had experienced a fall of 1.70% in the last 24 hours, trading at $62028.3.</p>
<p>If demand picks up, Bitcoin could bounce back from the current level. However, if the price fails to stay above the $60,000 price level, it could decline further and could even go as low as $50,000 which is a major support level.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>A 1108 BTC transaction from the Binance exchange to an unknown wallet suggests the crypto moguls are bullish. Another transaction of 2000 BTC occurred between two unknown wallets, likely for liquidity purposes. Popular X personality Borovik’s tweets highlight the rise in institutional investment (indirect) on Bitcoin.</p>
<p>Despite recent fluctuations, Bitcoin has shown signs of recovery and could potentially surge past resistance levels if demand increases. However, if the price does not stay above $60,000, it could decline further towards the $50,000 support level.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Amidst Whale Accumulation & Positive News, Can Bitcoin See $100K?

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Thecoinrepublic.com

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