Inauguration Effect? Bitcoin Whales Start Accumulating As Trump Era Begins 🐋
Following Donald Trump’s inauguration, Bitcoin has traded between $101,000 and $110,000. However, whales are accumulating Bitcoin again, with their holdings increasing from 16.2 million to 16.4 million BTC. This indicates the highest growth rate since mid-December amid Trump's regulatory proposals.
Besides whale accumulation, selling pressure has reduced significantly, with profit-taking down by 93% from the December peak. Despite weakened spot demand, analysts forecast another BTC rally, predicting prices up to $275,000. Yet, this depends on the Federal Reserve's interest rate decisions this year.
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