Whale Watch: Bitcoin’s $100,000 Transactions Soar, More Surge Ahead?
06 January 2024 - 12:00PM
NEWSBTC
The Bitcoin (BTC) network has experienced a significant uptick in
high-value transactions, a phenomenon not seen in nearly two years.
Crypto analyst Ali has highlighted this trend, noting 16,900
transactions, each exceeding $100,000. This surge is a critical
indicator of increased activity by Bitcoin whales – entities
holding large amounts of BTC – and provides valuable insight into
their strategic maneuvers in the current market landscape. In the
past 24 hours, #Bitcoin experienced its largest spike in
transactions over $100,000 in nearly two years. The 16,900 large
transactions serve as a proxy for $BTC whale activity, offering
insights into how these major players might be positioned in the
#crypto market. pic.twitter.com/CCnaoBOK0F — Ali (@ali_charts)
January 5, 2024 Bitcoin Recovery Following Matrixport Reports Saga
This flurry of whale activity arrives amid a backdrop of
intensified market volatility. Bitcoin, the bellwether of the
digital currency world, recently underwent a price correction,
dipping below the $41,000 mark. Related Reading: From Bullish To
Bearish, Bitcoin Plunges More Than 6% Amid Matrixport’s
Contradictory Reports This downturn has been attributed to various
factors, particularly the controversial report from Matrixport,
which gave reasons why the US Securities and Exchange Commission
(SEC) may reject several spot Bitcoin exchange-traded funds (ETFs)
applications this month. Despite these factors, Bitcoin has shown
resilience as it has begun to regain ground, hovering around the
$43,000 mark. The asset has demonstrated a 2.5% increase over the
last week. BTC To $50,000? Several analysts have weighed in with
predominantly bullish forecasts in the wake of Bitcoin’s recovery
from the week’s earlier downturn. Dan Gambardello posits that
Bitcoin might be on the cusp of “breaking out from a symmetrical
triangle pattern.” This technical formation, often characterized by
decreasing volatility and converging trendlines, hints at potential
price escalation. Gambardello asserts that this breakout could
catapult BTC to the $50,000 mark, especially with the anticipated
approval of a spot Bitcoin ETF. Related Reading: Bitcoin’s Road To
Record Heights: Analysts Forecast Post-Halving Surge A symmetrical
triangle, recognized by its oscillating price movements between
converging upper and lower trendlines, signifies a standoff between
buyers and sellers. Should BTC shatter the upper boundary of this
pattern, as Gambardello suggests, it may indeed embark on an
unprecedented trajectory, surpassing critical resistance levels
within its Fibonacci sequence. Bitcoin ETF Ticking Time Bomb!
Approval Could Trigger Historic Crypto Rally! Intro 00:00 Big
Grayscale news 1:10 Bitcoin ETF final stretch 2:30 BTC price
pressure building 3:15 $50k Bitcoin target 5:10 BTC attempting
something it’s never done 6:30 Bitcoin dominance and altcoins…
pic.twitter.com/uZZ2YrblCO — Dan Gambardello (@cryptorecruitr)
January 4, 2024 Another voice in the chorus of bullish predictions
is Adrian Zduńczyk, a renowned crypto trader. Zduńczyk shares an
optimistic outlook, forecasting that BTC could reach new all-time
highs following its upcoming halving event. 4/ With the 4th halving
in mid April, $BTC can be a hot speculation topic, backed by the
hopes of the ETF approvals. Besides, BlackRock’s iShares $IBTC
Bitcoin Spot ETF can set an example for many institutions to
follow. Trillions of dollars are estimated to flow into crypto.
pic.twitter.com/vYQ2F6c36w — Adrian Zduńczyk, CMT (@crypto_birb)
January 1, 2024 Featured image from Unsplash, Chart from
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