2024

Bitcoin

The world’s biggest cryptocurrency, Bitcoin, has seen a $2.8 billion accumulation within 24 hours, led by prominent Bitcoin whales buying the dip at an average price of $59,000, signaling a new era of confidence among large investors. 
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> whales accumulated 47K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> in the past 24 hours. We're entering a new era. <a href="https://t.co/SXgzToN8GU" target="_blank">pic.twitter.com/SXgzToN8GU</a>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1786329424633516461?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 3, 2024</a>
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The surge in Bitcoin whale activity, highlighted by CryptoQuant founder Ki Young Ju, shows Bitcoin whale wallets now holding a staggering 498.1K BTC, up from 450K BTC a day ago, worth $29.38 billion. 
Analysts suggest a potential price rebound based on on-chain metrics. Dan from CryptoQuant points to oversold conditions signaled by Bitcoin’s Spent Output Profit Ratio (SOPR) nearing the bottom of the Bollinger Band.&nbsp; 
Additionally, cooling market sentiment among general investors hints at short-term relief for Bitcoin’s price. The market intelligence platform identifies a demand zone at $58K, with potential selling pressure around $62K.&nbsp; 
Bitcoin, currently <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">trading</a> at $63,095, has validated these assessments with a notable 4.28% gain from the previous day’s price of $58,000. 
The surge in Bitcoin whale activity and positive on-chain metrics suggest potential short-term price recovery for Bitcoin, supported by market sentiment and trading patterns. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/26/massive-1-3b-crypto-whale-transfer-sparks-market-buzz/" target="_blank" rel="noreferrer noopener">Massive $1.3B Crypto Whale Transfer Sparks Market Buzz</a> 
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Bitcoin Whales Accumulated 47,500 BTC Worth $2.8B in 24 Hrs

The Crypto Times

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