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Cryptopotato

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20,000 BTC Purchased in Just 2 Days by Whales: How Will Bitcoin’s Price React?

  • BTC whales have returned, accumulating over $2 billion worth of the cryptocurrency in a short timeframe.
  • Large investors bought more than 20,000 BTC in the past two days, with collective holdings over 4.7 million assets, representing around 23.7% of the circulating supply.
  • Whale accumulation is seen as a bullish signal for a potential price rally, potentially inspiring smaller players to follow suit.
  • Other bullish indicators include diminishing BTC supply on exchanges, positive exchange netflows on only seven of the last 30 days, and Bitcoin's Relative Strength Index (RSI) nearing oversold levels.

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