Bitcoin Establishes New Higher High Amid Market Volatility And Whale Activity
The post Bitcoin Establishes New Higher High Amid Market Volatility And Whale Activity appeared on BitcoinEthereumNews.com.
For the first time since its all-time high, Bitcoin has set a new technical higher high, with prices bouncing into the $66,000 region. This marks a pivotal moment, as several critical on-chain metrics have also reached higher levels, signaling growing market interest and activity. However, market volatility has surfaced, driven by geopolitical tensions and significant whale movements. For the first time since the ATH, #Bitcoin has established a new technical higher high, as price bounced into the $66k region. Alongside this, there is a multitude of critical on-chain metrics that have also set higher highs, making this an interesting moment in time. Discover… pic.twitter.com/AeOruDoPqo — glassnode (@glassnode) October 2, 2024 A massive whale, known for large Bitcoin holdings, resumed depositing $BTC to centralized exchanges (CEXs) as the market reacted to Iran’s strike against Israel. Notably, this whale accumulated 3,933 BTC (worth $234 million) from Binance between August 29 and September 15 at an average price of $59,591. Just 40 minutes ago, the whale transferred 750 BTC ($46.3 million) to Binance as Bitcoin’s price fell by about 3%, settling around $61,751. With 9,736 BTC ($601 million) still in the whale’s possession, traders are left wondering whether further selling is imminent, reminiscent of the whale’s large dumps in July. This giant whale resumed depositing $BTC to CEX as the market crashed due to Iran’s strike against Israel! Notably, the whale accumulated a net 3,933 $BTC ($234M) from #Binance at ~$59,591 between Aug 29 and Sep 15 and started moving 750 $BTC ($46.3M) to #Binance at $61,751… https://t.co/bVjg21RGtt pic.twitter.com/ju57X7XY19 — Spot On Chain (@spotonchain) October 2, 2024 Traders On Binance Feels Optimistic About Bitcoin’s Next Movement Despite this, traders on Binance are optimistic. Approximately 61.36% of them are going long on Bitcoin, aiming to capitalize on the price dip. However, if Bitcoin bounces…
Filed under: News - @ October 3, 2024 12:28 pm