2024

Prime

Biden

Bitcoin

when

<ul>
 <li><strong>Bitcoin trading volume is up 2% in the past 24 hours.</strong></li>
 <li><strong>Six-year-old dormant wallet transfers $61 million worth of BTC.</strong></li>
</ul>
<p>Bitcoin, the largest cryptocurrency, has been under bearish pressure since mid-June, dropping below $58.5K amid strong selling pressure. However, in the past 24 hours, BTC has shown signs of recovery with a modest 2% price increase and a similar rise in trading volume. This recovery coincides with the heated debate between President Biden and former President <a href="https://x.com/realDonaldTrump" target="_blank" rel="noopener noreferrer nofollow">Trump</a>, which hinted at crypto discussions that ultimately did not occur.</p>
<p>Meanwhile, Bitcoin whales are making significant moves and dormant wallets are becoming active. Notably, a wallet that had been dormant for six years deposited 1,000 BTC (approximately $61.55 million) into <a href="https://www.coinbase.com/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> Prime four hours ago. Additionally,9 hours ago, 9,500 BTC (around $587.1 million) was transferred between unknown wallets.</p>
<p>Moreover, yesterday, a <a href="https://thenewscrypto.com/bitcoin-sees-massive-sell-off-miners-liquidate-btc-worth-2-billion/" target="_blank" rel="noopener noreferrer nofollow">miner</a>‘s wallet that had been dormant for 14 years deposited 50 BTC (approximately $3.05 million) to Binance. This miner had earned the 50 BTC from mining on July 14, 2010.</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">A wallet that had been dormant for 6 years deposited 1K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ($61.55M) into <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> Prime 4 hours ago.<br><br>Address:<br>12EMDoUhaNCuWZeeT6ey61AkjKyzmjV2m3 <a href="https://t.co/jpm5bmM8Sa" rel="noopener noreferrer nofollow">pic.twitter.com/jpm5bmM8Sa</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1806541736560492568?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 28, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<h3 class="wp-block-heading" id="h-accumulation-trends-and-market-sentiment">Accumulation Trends And Market Sentiment</h3>
<p>Research reveals that after a sharp sell-off in late 2022, whales have been steadily accumulating BTC since early 2023. This steady accumulation has often preceded price rallies. Data shows that holders controlling at least 0.1% of the total Bitcoin supply increased their holdings by 7,130 BTC in a single day, worth around $436 million.</p>
<p>IntoTheBlock data revealed that on June 24th, when Bitcoin’s <a href="https://thenewscrypto.com/are-bitcoin-bears-dominating-as-btc-price-declines-further/" target="_blank" rel="noopener noreferrer nofollow">price</a> briefly dipped below $60,000, there was a significant surge in net inflows. Large holders took advantage of this dip by adding 7,130 BTC to their wallets. It marks their highest net inflows since late May.</p>
<p>Despite these movements, Bitcoin’s price has not surged past the first resistance level of $62K. The daily RSI (Relative Strength Index) is at 35, indicating ongoing selling pressure.</p>
<p><strong>Highlighted News Of The Day</strong></p>
<p><a href="https://thenewscrypto.com/south-american-country-bolivia-lifts-4-year-ban-on-bitcoin/" rel="noopener noreferrer nofollow">South American Country Bolivia Lifts 4-Year Ban on Bitcoin</a></p>

Are Active Bitcoin Dormant Whales Indicating a Recovery?

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TheNewsCrypto

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