- Bitcoin wallet addresses containing 100 to 10,000 BTC bought $726 million worth of coins in 9 days.
- Shark and whale activity highlights the continued accumulation of BTC as the market navigates the recent FTX-fuelled crash.
- The bitcoin price soared to $18,385 on Tuesday before pulling back late on Wednesday following a US Central Bank interest rate hike.
Bitcoin The week stalled well above $18,000 as crypto markets rallied amid euphoria in risk asset markets due to cooling inflation in the US.
The flagship cryptocurrency hit a high of $18,385 on Wednesday ahead of a 50% surge by the US Federal Reserve.
While Fed Chair Jerome Powell’s aggressive remarks helped ease sentiment to push BTC below $18k again, the crypto is on course for a fresh upside as prices trade above the key support base established after the FTX explosion. is ready.
whales keep buying the dip
bitcoin retreat $18,385 suggests that the bulls may have to rely on a buffer at $17,200 – an immediate resistance level that is likely to act as a key support base. Beneath this, the bears can target $15,700.
Despite the rejection at intraday highs above $18,300 seen this week, it is likely that bitcoin will retest the price level given its strong fundamental outlook.
according to O-chain data shared Going by market platform sentiment, more bitcoin sharks and whales have scooped up the coin in the past week. This happened amid the FTX fall and as the firm’s data shows, addresses holding 100 to 10,000 BTC have added $726 million BTC in just nine days.
🤯 Breaking: #bitcoinhave addresses between 100 and 10,000 $BTC bought $726 million in $BTC last 9 days During this, #stablecoin property like $ usdt, $busAnd $dai Procurement is also happening fast. This is a recipe for good things. Read all about it. https://t.co/H0G6oJhWFp pic.twitter.com/lOKPAfzZNO
— Sentiment (@santimentfeed) December 15, 2022
Around 15,900 wallet addresses in this category hold 8.5 million bitcoins worth over $149 billion (at current prices).
Notably, this adds to the accumulation seen since the bitcoin price recorded a sharp drop in early November on news of the FTX explosion.
Also whales and sharks, shrimp and crabs are grabbing some alpha. two wallet groups have been aggressively buy btc, like us highlighted hereThe group added over 96,000 BTC in 30 days worth over $1.6 billion.