Bitcoin Price Today: Massive Whale Accumulation, Could BTC Price Hit $70k This Weekend?
The post Bitcoin Price Today: Massive Whale Accumulation, Could BTC Price Hit $70k This Weekend? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price rebounded around 4.2 percent in the past 24 hours to trade above $67k on Friday during the early Asian session. The flagship coin rebounded from a crucial support range between $63,500 and $64k on Thursday, thus signaling further bullish momentum.
Rising Bitcoin DominanceMoreover, Bitcoin dominance rallied to a new high since mid-April, of around 56.67 percent on Friday. The poor performance of the newly approved spot Ether ETFs in the United States has increased confidence in the Bitcoin market.
Notably, the ETH/BTC weekly chart slipped below the crucial support level established in the past few months of around 0.51.
According to a popular crypto analyst Benjamin Cowen, the Bitcoin dominance could easily reach 60 percent before the highly anticipated reversal takes place to trigger the altseason.
Whales on the HuntA smart whale withdrew 1,147 $BTC ($75.5M) from #Binance at an average price of $65,814 in the past 9 days!
Between Aug 2023 and May 2024, this smart whale traded #Bitcoin twice and made a total profit of $37.09M (+48.7%)!
Note that the whale's latest $BTC accumulation was 1… pic.twitter.com/sNlAOZRZmg
Amid the rising uncertainties in global macroeconomics, more investors have shown higher interest in Bitcoin and other digital assets. For instance, on-chain data analysis from spotonchain shows a smart whale withdrew 1,147 Bitcoins from Binance, worth about $75 million in the last nine days.
Long term #Bitcoin holders 3-5y are increasing massively
They are not selling 