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Bitcoin whale accumulation hits highest level since April 2024
Whales are gradually returning to the market, following the recent resurgence in the price of the leading cryptocurrency. Notably, Bitcoin is trading at $84,084 as of press time, an increase of 9.48% over the last seven days, according to CoinMarketCap.
The renewed interest from whales is evident in the increasing number of massive transfers flooding the Bitcoin ecosystem in recent days. U.Today recently reported a massive Bitcoin withdrawal that saw over $84 million leave a major cryptocurrency exchange. This metric further validates growing speculation that high-net-worth investors are increasingly adopting Bitcoin as a long-term strategy, aiming to leverage the ongoing positive momentum to acquire huge quantities of BTC ahead of a possible rally and ultimately maximize gains.
In the same spirit, blockchain tracking firm Whale Alert also spotted a massive Bitcoin transfer involving 1,000 BTC from a major U.S. crypto exchange to an unknown wallet on April 15.
Source: https://u.today/bitcoin-whale-accumulation-hits-highest-level-since-april-2024
