Reserve

Rekt

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin whales have accumulated over 47,000 BTC in 24 hours, following a post-halving price dip.</li> 
 <li>The potential for Bitcoin’s weekly close to exceed $60,000 is being explored.</li> 
</ul>  
<p>Bitcoin whales, defined as large wallets holding at least 100 BTC, have begun to accumulate <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin (BTC)</a> once more after a price dip post-halving.</p> 
<p>Over 47,000 BTC, valued at more than $2.9 billion at current rates, has been accumulated by these whales, as observed by Ki Young Ju, the founder and CEO of CryptoQuant.</p> 
<h2 id="whale-activity-and-bitcoin-price">Whale Activity and Bitcoin Price</h2> 
<p>The data excludes wallets associated with centralized exchanges and mining companies. Although the metric does include spot Bitcoin exchange-traded funds (ETFs), they are not the cause of the current increase, according to CryptoQuant’s CEO.</p> 
<p>Spot Bitcoin ETF inflows have, in fact, turned negative. The 11 U.S. Bitcoin ETFs have recorded over $871 million of negative net outflows this week, the largest week of outflows since their inception.</p> 
<h2 id="bitcoin-s-potential-price-increase">Bitcoin’s Potential Price Increase</h2> 
<p>The recent price decrease of Bitcoin was merely a “downside wick,” and a weekly close above the $60,000 mark could establish this psychological mark as new support, as per Rekt Capital, a prominent Bitcoin analyst.</p> 
<p>According to historical chart patterns, Bitcoin could remain in the post-halving “danger zone” for another week.</p> 
<p>The dovish Federal Reserve could also assist Bitcoin in gaining more upward momentum. The overall market sentiment improved due to the Fed showing signs of injecting liquidity into the economy.</p> 
<p>Bitcoin traders should monitor the $60,000 mark closely. A drop below this level could liquidate over $700 million worth of leveraged long positions across all exchanges.</p>

‘New Age’ Crypto: Whales Accumulate 47K BTC amid Market Dip

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