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Bitcoin (BTC) accumulation by large holders has reached levels not seen since the 2020 bull market. 🐳
- Large holders, or "whales," of Bitcoin have been actively accumulating BTC, reminiscent of the precursor to the 2020 bull market.
- Bitcoin in their accounts has reached an all-time high in the last two months.
- Factors such as expected interest rate cuts and increased institutional buying could drive Bitcoin higher.
- On June 10, US Bitcoin exchange-traded funds (ETFs) saw their first day of outflows in 19 trading days.
- On June 11, US Bitcoin ETFs saw over $200 million in outflows.
- Bitcoin price has successfully confirmed $66,000 as new support on the weekly chart.
- However, Bitcoin price has stalled despite the rise in realized price, mainly due to the distribution of older coins.
- Large holders, or "whales," of Bitcoin have been actively accumulating BTC, reminiscent of the precursor to the 2020 bull market.
- Bitcoin in their accounts has reached an all-time high in the last two months.
- Factors such as expected interest rate cuts and increased institutional buying could drive Bitcoin higher.
- On June 10, US Bitcoin exchange-traded funds (ETFs) saw their first day of outflows in 19 trading days.
- On June 11, US Bitcoin ETFs saw over $200 million in outflows.
- Bitcoin price has successfully confirmed $66,000 as new support on the weekly chart.
- However, Bitcoin price has stalled despite the rise in realized price, mainly due to the distribution of older coins.
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