Bitcoin’s Largest Holders Are Stacking Again — What It Means For The Market 🐋
The Bitcoin market experienced significant volatility in April, with considerable gains and losses. Despite this, Bitcoin whales have been increasing their holdings, possibly anticipating future price increases.
Santiment, a blockchain analytics firm, reports major Bitcoin stakeholders accumulated 53,600 BTC, influencing 67.77% of Bitcoin circulation.
Bitcoin has shown no clear price direction, experiencing swings between $74,000 and $88,000, with consolidation in the $83,000 to $86,000 range. This accumulation by whales suggests growing market confidence and a potential rally.
Following macroeconomic factors, Bitcoin's supporters hope for positive developments, like a Federal Reserve rate cut, to boost prices further.
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