While macroeconomic uncertainty and technical indicators raise doubts about Bitcoin’s (BTC) recent gains, buying activity of some of the largest investors indicates a more optimistic view.
Since March 11, so-called Bitcoin whales have snapped over 129,000 BTC worth $ 11.2 billion at the market price of $ 87,500, according to data traced by Blockchain Analytics company Glassnode.
It is the most significant degree of accumulation since August 2024, indicating growing confidence in the largest cryptocurrency among the largest market participants, Glassnode X.
BTC has regained a certain poise since he reached less than $ 78K for approx. Two weeks ago. Recovery has been led by Dovish comments from Federal Reserve and Optimism that impending Trump Teachers on April 2 will be more measured than expected.
Glassnode’s analysis revealed that crypto whale addresses with over 10,000 BTC compensated for continued sale of small holders.
Other indicators such as “Bitcoin 1y+ Hold Wave,” The Track of Bitbo charts shows a renewed recovery, indicating a shift to a team strategy, as Wednesday’s edition of Crypto Daybook Americas noted.
