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Bitcoin

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<ul class="news-points"> 
 <li>Bitcoin has stabilized around $68K, but surging on-chain activity suggests a potential price surge.</li> 
 <li>New whale wallets are seeing an influx of $1 billion daily, with $11.8B BTC accumulated in two weeks.</li> 
 <li>This trend mirrors mid-2020, which preceded a significant Bitcoin price surge.</li> 
</ul> 
Bitcoin has settled around the $68K price level for the past few days after the earlier aggressive bull rally that surged the price to $71K. The <a href="https://coinedition.com/bitcoin-btc-price-dips-after-69k-resistance-breach-attempt-fails/">premier crypto</a> reawakened bullish optimism in the altcoin market, where tokens like PEPE smashed new all-time highs this week. 
However, the market uptrend has lost steam as Bitcoin stabilizes at around $68,000. Market participants are now diving into on-chain data for clues into Bitcoin’s next direction. 
In a recent post on X, Ki Young Ju, the founder of the analytics platform CryptoQuant, noted a <a href="https://twitter.com/ki_young_ju/status/1796409304108737003" target="_blank" rel="nofollow">remarkable resemblance</a> between the current sentiment toward Bitcoin and what unfolded in mid-2020. 
According to Young Ju, Bitcoin lingered near the $10,000 level during that period for half a year, accompanied by robust on-chain activity, later identified as Over-The-Counter (OTC) transactions. The on-chain activity under scrutiny involved …
The post <a href="https://coinedition.com/bitcoin-whales-accumulate-as-price-hovers-near-68k-mirroring-2020-pattern/">Bitcoin Whales Accumulate as Price Hovers Near $68K, Mirroring 2020 Pattern</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Whales Accumulate as Price Hovers Near $68K, Mirroring 2020 Pattern

Coin Edition

31 May 2024 tarihli diğer yazılar

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