🔥 BULLISH: #Bitcoin whales seized the $90K dip, buying $1.5B in $BTC as the price rebounds toward $100K. pic.twitter.com/ieJTGeDxOt
— Cointelegraph (@Cointelegraph) November 29, 2024
A
A
16,000 Bitcoins Accumulated In 48 Hours: Whales Dominate The Market
Fri 29 Nov 2024 ▪
3
min read ▪ by
Getting informed
▪
Investissement
Bitcoin is experiencing an impressive rebound after a major correction. Bitcoin whales, true pillars of the market, have taken advantage of reduced prices to accumulate massively.
Whales accumulate 16,000 BTC after the drop
At the beginning of the week, the price of Bitcoin reached a local low of $90,742. This triggered a frenzied activity of the whales. According to CryptoQuant, they accumulated 16,000 BTC. This represents nearly $1.5 billion.
This dynamic contrasts with the $4 billion liquidated by short-term holders. This reveals a divide between individual and institutional Bitcoin investors.
Analysts note that this volume remains concentrated among institutional investors, a sign of persistent confidence despite recent volatility. However, a massive buy from individuals would be necessary to support a sustainable rise towards $100,000.
Bitcoin Price: A technical rebound above $95,000
The price of Bitcoin quickly rebounded by 6.25%, surpassing the $96,000 mark on November 29. The data from IntoTheBlock indicates solid support between $92,777 and $95,634, where over 441,250 BTC have been acquired.
From a technical perspective, this rebound resembles a V-shaped pattern. To maintain this trend, a close above $96,400 is nevertheless crucial before aiming for $100,000.
$100,000 in sight? The outlook for Bitcoin
In October, Bitcoin whales reached a historic peak of 670,000 BTC before a spectacular price surge. If this pattern repeats, Bitcoin could therefore break the psychological resistance of $100,000.
As December approaches, institutional and individual investors are monitoring technical indicators to take advantage of the current momentum.
Bitcoin continues to attract investors despite its volatility. If current conditions hold, a new historical peak could be reached. To be continued…
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
A
A
Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.