As the price of Bitcoin (BTC) breaks past $11,100 on Sep. 19, whale activities and Bakkt’s all-time high volume suggests strengthening momentum.
The 4-hour price chart of Bitcoin. Source: TradingView.com
According to CryptoQuant’s Ki Young Ju, fewer whales have been sending BTC to exchanges. Historically, the data indicates less selling pressure from high-net-worth Bitcoin holders.
Simultaneously, the daily volume of Bakkt’s institution-focused Bitcoin futures market achieved a record…