2024

Bitcoin

when

<ul>
 <li>Bitcoin experiences a slight dip, but the long-term outlook remains positive.</li>
 <li>Whales’ increased accumulation signals confidence, and potential for price surge.</li>
</ul>
Bitcoin has experienced a slight dip of 0.82% in the last 24 hours, accompanied by a notable 32% surge in trading volume. However, zooming out to a monthly perspective reveals a more optimistic picture, witnessing a 9% surge. Just a week ago, it reached a 5-week high, touching $71,958.
In the realm of large-scale transactions, 1,195 <a href="https://thenewscrypto.com/bitcoin-to-70k-will-the-bulls-confirm-this-rally/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>, valued at approximately $81.95 million, recently made its way from <a href="https://twitter.com/binance" target="_blank" rel="noopener noreferrer nofollow">Binance</a> to an undisclosed wallet, adding a layer of intrigue to the market.
<div align="center">
 <blockquote class="twitter-tweet">
 <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;"> 1,195 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (81,950,698 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/xUHtnpjVfB" rel="noopener noreferrer nofollow">https://t.co/xUHtnpjVfB</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1795047632630362530?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
Delving deeper into the behavior of Bitcoin whales, data indicates a notable trend. In March, during Bitcoin’s <a href="https://thenewscrypto.com/ethereum-l2-tvl-sees-impressive-new-ath-amidst-growing-advancements/" target="_blank" rel="noopener noreferrer nofollow">peak</a> at an all-time high of $73,737, these large holders increased their BTC holdings by over 11%. However, their accumulation rate stabilized in April, settling at around 3%.
But May paints a different picture. Recent reports suggest that Bitcoin whales are back in action, with the monthly accumulation rate surpassing 5% as of May 24. Analysts interpret this resurgence as a strong signal of confidence in the current market conditions. They argue that these whales are demonstrating a robust buying sentiment, signaling that the current price levels are conducive to accumulation, despite prevailing apprehensions.
Looking ahead, if the whale accumulation reaches levels akin to March, there’s a heightened probability of Bitcoin revisiting and potentially surpassing its previous all-time high. This speculation gains further credence from past patterns, as Bitcoin has historically soared to new heights when whales accumulated <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BITSTAMP%3ABTCUSD" target="_blank" rel="noopener noreferrer nofollow">BTC</a> at similar rates.
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Can Bitcoin’s Whale Accumulation Drive it Beyond Latest Peaks?

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