Bitcoin Signals Super Bullish Outlook As Sharks Holding 100-1000 BTC Sees Largest Jump ⋆ ZyCrypto
The post Bitcoin Signals Super Bullish Outlook As Sharks Holding 100-1000 BTC Sees Largest Jump ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Bitcoin kicked off the week on a positive note, surging past $28,000 late on Monday. This upward momentum had a cascading effect on other cryptocurrencies, with Ethereum, Solana (SOL), Cardano (ADA) and other altcoins also posting notable gains. This rapid price movement caught short-sellers off guard, resulting in significant losses amounting to $26.1 million in the past 24 hours, per data from Liquidations data firm Coinglass. Notably, Bitcoin’s surge coincided with positive news from the crypto analytics firm Santiment. In a tweet, the firm announced that on Sunday, 16 additional wallets joined the group of those holding 100-1,000 BTC, marking the largest single-day growth since February 28, 2022. Furthermore, data from the firm shows that Bitcoin whales purchased approximately 117 BTC in the past 48 hours, reinforcing the belief in a bullish future for Bitcoin. “As key stakeholders grow, the argument for a bullish future gets stronger,” the firm wrote. Advertisement     In another tweet, Santiment attributed the surge to the movement of long-dormant coins, signalling potential price reversals. “Bitcoin’s return to $27K was likely aided by large amounts of older, stagnant coins that were finally moved. The largest amount of dormant $BTC changing wallets since July, these spikes in our Age Consumed metric indicate price direction reversals.” Elsewhere, in a lengthy tweet, renowned market analyst Scott Melker pointed out the significance of the increase in the number of large Bitcoin wallets. Notably, the number of large wallets has been steadily growing since February 2022, reaching a record high of 157,400 by September 26, 2023, surpassing the previous all-time high set in 2019. In the crypto world, “sharks” typically hold between 100 and 1,000 Bitcoin, while “whales” have even larger holdings. The pundit noted that this accumulation of Bitcoin by these large holders signifies a growing…
The post Bitcoin Signals Super Bullish Outlook As Sharks Holding 100-1000 BTC Sees Largest Jump ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement Bitcoin kicked off the week on a positive note, surging past $28,000 late on Monday. This upward momentum had a cascading effect on other cryptocurrencies, with Ethereum, Solana (SOL), Cardano (ADA) and other altcoins also posting notable gains. This rapid price movement caught short-sellers off guard, resulting in significant losses amounting to $26.1 million in the past 24 hours, per data from Liquidations data firm Coinglass. Notably, Bitcoin’s surge coincided with positive news from the crypto analytics firm Santiment. In a tweet, the firm announced that on Sunday, 16 additional wallets joined the group of those holding 100-1,000 BTC, marking the largest single-day growth since February 28, 2022. Furthermore, data from the firm shows that Bitcoin whales purchased approximately 117 BTC in the past 48 hours, reinforcing the belief in a bullish future for Bitcoin. “As key stakeholders grow, the argument for a bullish future gets stronger,” the firm wrote. Advertisement In another tweet, Santiment attributed the surge to the movement of long-dormant coins, signalling potential price reversals. “Bitcoin’s return to $27K was likely aided by large amounts of older, stagnant coins that were finally moved. The largest amount of dormant $BTC changing wallets since July, these spikes in our Age Consumed metric indicate price direction reversals.” Elsewhere, in a lengthy tweet, renowned market analyst Scott Melker pointed out the significance of the increase in the number of large Bitcoin wallets. Notably, the number of large wallets has been steadily growing since February 2022, reaching a record high of 157,400 by September 26, 2023, surpassing the previous all-time high set in 2019. In the crypto world, “sharks” typically hold between 100 and 1,000 Bitcoin, while “whales” have even larger holdings. The pundit noted that this accumulation of Bitcoin by these large holders signifies a growing…
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