Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-movements-suggest-potential-bitcoin-price-surge/" data-wpel-link="internal">Whale Movements Suggest Potential Bitcoin Price Surge</a> 
Whale accumulations are generally interpreted as the first sign of an impending price rally or upward movement in a cryptocurrency. Recently, there has been an increase in whale activity in <a href="https://coin-turk.com/bitcoin-yukselise-gecti-btc-yukari-yonlu-ivmesini-koruyabilecek-mi" data-wpel-link="internal">Bitcoin</a> and some altcoins. On Tuesday, while <a href="https://en.coin-turk.com/bitcoin-stays-resilient-as-halving-approaches/" data-wpel-link="internal">Bitcoin</a>‘s price was strongly above the $66,000 support level, a crypto whale purchased 500 <a href="https://coin-turk.com/lider-kripto-para-bitcoin-btc-psikolojik-direnc-seviyesini-asti" data-wpel-link="internal">BTC</a> from the <a href="https://en.coin-turk.com/binances-stablecoin-strategy-according-to-coinbase-ceos-statements/" data-wpel-link="internal">Binance</a> exchange. 
<h2 style="text-align: justify" id="current-bitcoin-situation">Current Bitcoin Situation</h2> 
On-chain analysis firm Lookonchain, reported on April 23 that a significant transfer of 500 <a href="https://en.coin-turk.com/critical-hours-for-cryptocurrencies-as-markets-open/" data-wpel-link="internal">BTC</a> from Binance, the largest exchange by volume, to a new wallet address occurred. 
This transfer has excited the cryptocurrency community, leading to rumors that BTC’s price might test its March ATH of $73,750. 
Lookonchain: 
<blockquote> 
 We noticed a new wallet withdrawing 500 BTC ($33.07 million) from Binance. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-343652" src="https://coin-turk.com/wp-content/uploads/2024/04/ki-young-ju-coin-turk-com.png" alt="" width="592" height="101"> 
This is one of the largest transfers following the Bitcoin halving, which saw transaction fees rise to an all-time high of $128.45. 
CryptoQuant’s famous CEO Ki Young Ju, stated that approximately $2.4 million in fees were paid for transactions at Bitcoin’s 840,000th block to mark the halving. 
<h2 style="text-align: justify" id="matrixport-s-comments-on-bitcoin">Matrixport’s Comments on Bitcoin</h2> 
CryptoQuant CEO Ki Young Ju noted that the entry amounts of new whales into the market are nearly double that of the total investments of old whales. 
Long-term investors continue to profit. Consequently, the likelihood of long-term investors waiting for price increases to realize profits seems to be increasing. 
Matrixport, frequently mentioned during the ETF era, detected a negative turn in the average Bitcoin funding rate. 
Matrixport commented that this situation might have created a safe opportunity for investors to make long-term investments. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-343651" src="https://coin-turk.com/wp-content/uploads/2024/04/matrixport-bitcoin-coin-turk-com.png" alt="" width="601" height="376"> 
Matrixport: 
<blockquote> 
 This could be due to futures traders becoming uncertain about upward directions in the current environment. 
</blockquote> 
According to data provided by Coinglass, there was a more than 1% drop in CME BTC Futures Open Interest in the last 24 hours, with sales occurring in the last few hours. 
BTC price seems to be trying to surpass the $67,000 region today. It has been consolidating around this area, with the price fluctuating between $65,705 and $67,233 over the last 24 hours. Despite the price increase, there has been a slight drop in the 24-hour trading volume. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-movements-suggest-potential-bitcoin-price-surge/" data-wpel-link="internal">Whale Movements Suggest Potential Bitcoin Price Surge</a></h5>

Whale Movements Suggest Potential Bitcoin Price Surge

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 23 апр. 2024 г.

BIG Bitcoin ETF NEWS: Is the Launch Date for Bitcoin ETF Confirmed?

Dookey Dash will be Free to Play this Q1 of 2024

BEFE Coin Euphoria: The MEME Coin That’s Trending With Unstoppable Force

Bitcoin Mining Firms Prepare for Halving by Shifting Equipment Globally

Akash Network (AKT) surges 48% following Upbit listing

BTCC Exchange’s Renaissance art and Bitcoin fusion fascinated Paris Blockchain Week attendees

Join our free newsletter for daily crypto updates!