Bitcoin Whales Scoop Up $1.2B Worth Of BTC During Market Dip: Is Potential Rally For King Crypto On The Cards?
Portfolio Pulse from Rounak Jain
Bitcoin whales have acquired over $1.2 billion worth of BTC during a recent market dip, with their actions potentially signaling a forthcoming rally. The accumulation of 19,760 BTC occurred as Bitcoin's price fell below $60,000, contributing to a recovery to around $65,000. This behavior indicates a shift in market sentiment and could precede a rise in Bitcoin's price.
April 20, 2024 | 3:01 am
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Bitcoin whales' recent purchase of over $1.2 billion worth of BTC during a market dip has contributed to a recovery in Bitcoin's price, potentially indicating a forthcoming rally.
The significant acquisition of BTC by whales during a price dip and the subsequent recovery in Bitcoin's price suggest a positive market sentiment shift. Historically, such accumulations have often preceded price rises, making it likely that Bitcoin's price could see a short-term increase.
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