bullish

2024

Bitcoin

Coin

<p>The post <a href="https://coinpedia.org/news/why-is-bitcoin-price-up-today-btc-price-follows-asias-nikkei-225-hits-60-5k/">Why is Bitcoin Price Up Today? BTC Price Follows Asia’s Nikkei 225, Hits $60.5K</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin (BTC) price closely followed Asia’s Nikkei 225 in a bullish recovery on Tuesday. The flagship coin pumped over 3 percent in the past 24 hours to trade about $60.5k on Tuesday during the early Asian session. As a result, almost the entire crypto industry followed the same path, led by Binance Coin (BNB), Ripple-backed XRP, and Tron (TRX).</p> 
<p>The notable <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> recovery in the past 24 hours reduced the fear of further capitulation as more buyers doubled their investments. Bitcoin’s fear and greed index increased from 28 percent to 30 percent, denoting reduced fear of further crypto capitulation.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-whales-increases-appetite-nbsp">Bitcoin Whales Increases Appetite&nbsp;</h2> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin's whales, specifically wallets that hold between 100-1K BTC, have accumulated 94.7K more coins in the last 6 weeks. As price uncertainty has shaken many traders out of crypto, key stakeholders are loading up. <a href="https://t.co/hrhlVrNqNU">pic.twitter.com/hrhlVrNqNU</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1825551289230794963?ref_src=twsrc%5Etfw">August 19, 2024</a>
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<p>According to on-chain data analysis from Santiment, Bitcoin addresses holding between 100 and 1k BTCs added around 94.7k coins in the past six weeks. Currently, this group of Bitcoin. Whales hold a total of about 3.97 million BTC units.</p> 
<p>Among the Bitcoin whales in this category is Japanese publicly traded company <a href="https://x.com/gerovich/status/1825688778414891228?s=46" target="_blank" rel="noreferrer noopener nofollow">Metaplanet</a> Inc., which purchased an additional 57.273 BTCs worth approximately $3.4 million. As a result, Metaolanet now holds a total of about 360.368 BTCs.&nbsp;</p> 
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   <p lang="en" dir="ltr">A whale accumulated 347 <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBTC</a>($16M) again 7 hours ago!<br><br>Over the past week, this whale has accumulated a total of 1,953 <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBTC</a>($118M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at an average price of $58,853.<a href="https://t.co/XlRBgyL4Tt">https://t.co/XlRBgyL4Tt</a> <a href="https://t.co/g1KRtkK5eY">pic.twitter.com/g1KRtkK5eY</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1825699166628290599?ref_src=twsrc%5Etfw">August 20, 2024</a>
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<p>Another different whale purchased a total of 347 Bitcoins, worth over $16 million, from Binance in the past 24 hours. Meanwhile, the <a href="https://coinpedia.org/news/shocking-surge-institutional-investors-are-taking-over-bitcoin-etfs-in-2024/" target="_blank" rel="noreferrer noopener">US spot Bitcoin ETFs</a> registered a net cash inflow of about 2,139 coins, worth around $125 million on Monday, led by Fidelity’s FBTC.</p> 
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
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   <p lang="en" dir="ltr">I still think <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> dominance will go higher from here.<br><br>ALT/BTC pairs are still above the lower part of their range and should at least fall to those levels IMHO. <a href="https://t.co/raxNnNqA8Y">pic.twitter.com/raxNnNqA8Y</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1825566777641734288?ref_src=twsrc%5Etfw">August 19, 2024</a>
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<p>According to a reputable crypto analyst, Benjamin Cowen, Bitcoin will continue to gain against the altcoin industry in the near term. The crypto analyst anticipates a continued rise in Bitcoin’s dominance towards 60 percent.</p> 
<p>From a technical standpoint, Bitcoin price is not yet out of the woods after today’s bullish pump. The flagship coin must consistently close above the 50 and 200 <a href="https://coinpedia.org/traders/what-is-moving-average-indicator/" target="_blank" rel="noreferrer noopener">Moving Averages</a> (MAs) to maintain bullish momentum.&nbsp;</p> 
<p>Otherwise, the Bitcoin price could retract below $60k again before rebounding towards its all-time high.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/altcoins-that-may-offer-a-good-buying-opportunity-in-the-coming-week/" target="_blank" rel="noreferrer noopener">Altcoins That May Offer a Good Buying Opportunity in the Coming Week</a></p> 
<h2 class="wp-block-heading" id="h-nbsp">&nbsp;</h2>

Why is Bitcoin Price Up Today? BTC Price Follows Asia’s Nikkei 225, Hits $60.5K

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