Over 19k Bitcoins Are Accumulated By 2 Whales At The ATH

(CTN News) – Bitcoin (BTC) has maintained its position around the $42,500 level as the holiday season concludes and the new year, 2024, commences. Recent data indicates that two prominent investors have acquired a substantial amount of BTC, suggesting a positive outlook for its price.

As of now, Bitcoin has experienced a slight decline of 0.5% within the last 24 hours and is currently being traded at $42,450.

Despite this minor setback, the cryptocurrency’s market capitalization remains above $831 billion, accompanied by a daily trading volume of $27.7 billion.

On-chain data reveals that two influential investors, commonly referred to as whales, have accumulated a combined total of 19,349 BTC.

At the current market price, this accumulation amounts to over $820 million. Notably, one whale transferred 9,723 BTC, while the other sent 9,624 coins from Coinbase to two newly established wallets.

Market intelligence platform Santiment has provided data indicating a significant surge of 13.4% in whale transactions involving BTC valued at a minimum of $100,000 within the past 24 hours.

This surge is reflected in the increase in unique transactions, rising from 6,559 to 7,438 in a single day.

According to a report from crypto.news, there has been a consistent decrease in Bitcoin whale transactions between December 22 and 26.

Additionally, the total number of Bitcoin addresses has been steadily increasing since November 28. Santiment has reported that there are now a record-breaking 52.44 million unique wallets.

Considering the recent market conditions, it is possible that Bitcoin is on the brink of a new price surge. Santiment has observed that Bitcoin’s Relative Strength Index (RSI) has dropped from 64 to 57 in the past 24 hours. A lower RSI indicates a higher potential for a significant price increase.

In order for Bitcoin to gain bullish momentum, it is crucial for the RSI indicator to remain below the 60 mark.

SEE ALSO:

Delta Air Lines Company (NYSE: DAL) Investors Are Less Pessimistic