Bitcoin

April

Rekt

Bitcoin enthusiasts have been busy during the recent market dip, with a whopping $1.7 billion worth of the cryptocurrency flowing into ‘accumulation’ wallets as prices briefly slipped below $63,000.
On April 16, a staggering 27,700 Bitcoin found its way into these specialized wallets, setting a new daily record according to data from CryptoQuant. These ‘accumulation addresses’ are distinguished by their history of no withdrawals and holding balances of over 10 BTC, excluding those associated with miners and exchanges. Additionally, these addresses must have shown activity within the last seven years.
The surge in accumulation suggests a strong sentiment among large investors who remain steadfast in their belief in Bitcoin’s long-term potential. Analysts, such as the pseudonymous trader Rekt Capital, have pointed out parallels between current market movements and previous halving cycles, indicating that this could be a prime opportunity for investors to seize Bitcoin at discounted prices before a potential post-halving rally.
Rekt Capital predicts that Bitcoin might undergo a “re-accumulation phase” following the upcoming halving event, expected around April 20. Traditionally, such phases have lasted over a year, but with the possibility of an accelerated cycle in the current market, this timeline could be significantly shortened.

Huge Bitcoin Inflow: $1.7B Pour into ‘Accumulation’ Wallets as Market Dips

CoinstelegramEng

2024년 4월 23일에 게재된 다른 기사

Microsoft launches Phi-3, A Lightweight Language Model but Super Capable

Post-Halving Bull Run Is About to Start – Top Expert Picks for 25-50X

Coinbase Crashes Again? Coinbase’s Server Capacity Woes

Father-son team says they’ve recovered $6M in lost crypto

Embracing Diversity: The Significance of Inclusivity in Gaming

Coinbase Launches PEPE Perpetual Futures, Expanding Trading Options: Price Impact

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!