Have Bitcoin Whales Started Buying the Dip? Details

Have Bitcoin (BTC) Whales Started Buying the Dip? A recent analysis looked at the current movement of large Bitcoin holders amid the recent market recovery in the last 24 hours.

When analyzing the current movement in the market, according to a survey released by the cryptocurrency specialist platform, IntoTheBlock, on April 19, Bitcoin whales may have finally started to buy the dip.

The analysis noted that on April 18, Bitcoin whales, who account for more than 0.1% of the total token supply, collectively added 19,760 Bitcoins to their respective portfolios at an average price of $62.5. thousand.

“Yesterday, the largest Bitcoin holders, holding more than 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62,500. Historically, accumulations from these addresses have often preceded increases in the price of Bitcoin,” the analysis wrote.

Bitcoin whales may have finally started buying the dip👇

Yesterday, the biggest Bitcoin holders, holding over 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62.5k. Historically, accumulations by these addresses have often… pic.twitter.com/c8K5uhkna4

— IntoTheBlock (@intotheblock) April 19, 2024

Over the past few days, the cryptocurrency market has witnessed strong volatility in the price of Bitcoin, which fell to trade at around $59,650 on Binance. However, Bitcoin and the broader cryptocurrency market showed a significant recovery today, April 19, with the halving event “knocking on the door.”

The largest market cryptocurrency has registered a recovery as the Bitcoin halving event approaches. At the time of publication, the price of Bitcoin was quoted at US$64,463.76, up 1.0% in the last 24 hours.

The halving is scheduled to take place today, April 19th. As the fourth Bitcoin halving approaches, the cryptocurrency community is paying attention to possible price fluctuations. Historically, halving events impact prices, with Bitcoin rallies often coinciding with halving events.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.