Bitcoin continues its meteoric rise, repeatedly breaking all-time highs (ATHs) as it attracts massive inflows from both ETFs and the spot market.
Over the past 30 days, the market has seen an astounding $62.9 billion in capital inflows, fueling Bitcoin’s relentless climb.
The introduction of Bitcoin ETF options has significantly boosted whale activity, further propelling $BTC to new heights. As the market gains momentum, long-term holders have started to spend more, signaling growing confidence and anticipation of higher price levels.
In the last 24 hours, two major accumulation events have caught the market’s attention:
1. A super-giant whale, identified as “bc1qc,” withdrew 750 BTC (worth $68.9 million) from Binance. This brings the whale’s total holdings to 24,660 BTC, valued at an incredible $2.3 billion.
2. Six newly activated wallets—likely controlled by a single entity—pulled 500.2 WBTC (worth $46.3 million) from Binance, subsequently supplying it all to Aave, signaling strategic DeFi positioning.
Analysts are drawing parallels between Bitcoin’s current trajectory and its performance in December 2020. According to Ali Martinez, Bitcoin’s RSI closely mirrors its historical pattern, suggesting a potential rise to $108,000, a brief pullback to $99,000, and a rebound to an ATH of $135,000.
On November 19, Bitcoin spot ETFs recorded a net inflow of $837 million, bringing their total net asset value to $98.426 billion.
With robust institutional interest, growing whale activity, and bullish market sentiment, Bitcoin’s upward momentum shows no signs of slowing. As the king of crypto marches forward, all eyes remain on whether $BTC will achieve the projected targets, solidifying its dominance in the digital asset space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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