 ▲ Bitcoin (BTC) |
NewsBTC, a media outlet specializing in blockchain, reported that the accumulation of Bitcoin (BTC) by cryptocurrency whales has increased. Currently, the daily Bitcoin accumulation of whale forces is estimated to be close to $1 billion.
Some analysts viewed the sharp increase in whales' Bitcoin accumulation as a bullish indicator, suggesting the possibility that Bitcoin could surpass the previous high of $71,000.
The number of cryptocurrency wallets holding 0.01 to 1 BTC increased, and the amount of Bitcoin accumulated by individual investors also increased. NewsBTC explained that the active asset accumulation flow of whales and individual investors is a positive factor in the possibility of Bitcoin hitting a new high.
However, there was a possibility that the decline in miners' profits could have a negative impact on the rally. Bitcoin miner revenue fell from $53 million to $48 million, according to an analysis of TradingView data.
If the trend of decreasing mining profits continues, the flow of Bitcoin into the market may increase as the pressure on miners to sell Bitcoin increases. At this time, the selling pressure in the market may worsen and disrupt the rally flow.
On the other hand, daily issues of cryptocurrency specialized media paid attention to the strong outlook for Bitcoin by an analyst called Credible.
Credible claimed through X (formerly Twitter) that Bitcoin would record one last price decline before a major breakout. He said, “Currently, realistically, it looks like it will fall to the $62,000 to $63,000 level. “And in 7 to 10 days, we will see a rally with the goal of $100,000.”
