New Bitcoin bull run? Whales and institutions accumulating, data shows

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…


Source link

About bitcoin

Check Also

Pro traders added to shorts as Bitcoin price broke $12K, data shows

As Bitcoin (BTC) breaks the $12,000 resistance, derivatives markets are flirting with overly excessive bullish …

Leave a Reply

Your email address will not be published. Required fields are marked *