Major Investors Increase Bitcoin Holdings: Market Implications

19 hours ago

Amid recent Bitcoin price decline, some investors are selling, while others take the opportunity to purchase during the dip.

Bitcoin Whales Activity

According to Lookonchain, five whales have accumulated 952 BTC worth $83.7 billion. Additionally, AI company Genius Group acquired $120 million in Bitcoin, indicating a potential buying opportunity.

Recent whale acquisitions may suggest upcoming market changes.Lookonchain

BTC Price Momentum

Currently, Bitcoin is trading at $91,350 and has recorded a gain of over 5.10% in the past 24 hours. Meanwhile, trading volume dropped by 35%, indicating fear among traders and investors.

Technical Analysis and Upcoming Level

According to CoinPedia's analysis, Bitcoin appears bullish following a price correction and is heading towards $100,000. Further price correction may occur, potentially benefitting the asset before its anticipated rally.

The increased activity of major investors and optimistic analyst predictions indicate positive prospects for Bitcoin, notwithstanding current market fluctuations.

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