Bitcoin

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
According to <a href="https://x.com/intotheblock/status/1808525028146700450">data</a> provided by cryptocurrency analytics firm IntoTheBlock, Bitcoin whales started aggressively buying the largest cryptocurrency after its price recently dipped below the $60,000 level. This indicates strong buying pressure from large holders.&nbsp;
The wallets that hold more than 0.1% of the cryptocurrency's total supply received roughly 55,000 BTC of net flows over the past month.&nbsp;
Earlier today, pseudonymous crypto analyst Ali also said that "early signs" of Bitcoin accumulation had emerged. This presumed accumulation phase would follow three months of distribution.&nbsp;
As&nbsp;<a href="https://u.today/boring-bitcoin-is-an-opportunity-cryptoquant-ceo-claims">reported by U.Today</a>, CryptoQuant's Ki Young Ju recently stated that Bitcoin's boring sideways price action could actually present a decent buying opportunity for investors. He has also opined that the bellwether coin was still in a bullish trend despite rapidly souring market sentiment.&nbsp;
On Wednesday, the leading cryptocurrency plunged to an intraday low of $59,712, which prompted prominent skeptic&nbsp;<a href="https://u.today/schiff-bitcoin-btc-price-poised-to-break-down">Peter Schiff</a> to predict that it would face a much steeper correction.
So far, the bulls appear to be determined to hold the pivotal $60,000 level, with Bitcoin currently changing hands at $60,373, according to CoinGecko&nbsp;<a href="https://www.coingecko.com/en/coins/bitcoin">data</a>. As noted by analytics firm Lookonchain, the most recent price drop&nbsp;<a href="https://x.com/lookonchain/status/1808422792997793938">coincided</a> with massive whale deposits to the Binance exchange.&nbsp;
Earlier this week, Fundstrat's Tom Lee&nbsp;<a href="https://www.coingecko.com/en/coins/bitcoin">stated</a> that the price of the largest cryptocurrency was likely to soar to $150,000 as soon as this year.&nbsp;&nbsp;

Major Whales Buying Bitcoin (BTC) Dip: Data

U_Today

Other articles published on Jul 3, 2024

Crypto Market Uncertain As Index Stays Neutral

Solana (SOL) Could Drop to the $80-$100 Price Range: Warns Analyst

No Floki Token on Solana, Shiba Inu Rival Issues Key Alert

'Crypto President' Trump's 'Less Hard' Regulation To Bless Coinbase's Bitcoin Leverage, Says Expert

Market Buzz: BlockDAG Soars with Influencer Boost Earning $55.2M In Presale, Render & XRP Show Ma...

What Will be My Portfolio if PENDLE Price Hits 40?

Join our free newsletter for daily crypto updates!