Bitcoin Accumulation In Full Swing As $1.3 Billion Exits Exchanges, $75,000 Next?

Quick Summary:

There have even been reports of liquidation in the market, with analysts noting that September is historically a bearish period for the crypto market.  With Bitcoin now seeing renewed momentum and experiencing a price surge above the $60,000 mark, investors’ interest in the cryptocurrency has resurged. Based on IntoTheBlock’s report, the majority of Bitcoin outflows, amounting to 12,420 BTC, from crypto exchanges occurred on Tuesday, September 10.

Reports indicate that approximately $1.3 billion worth of Bitcoin has been withdrawn from various crypto exchanges, signaling a renewed interest and confidence in the leading cryptocurrency.  Bitcoin Accumulation Frenzy Resumes Data from IntoTheBlock has revealed a new accumulation trend amongst Bitcoin investors.

During this time, the price of the cryptocurrency had been trading below $60,000, suggesting that investors were accumulating in anticipation of a potential price surge.  Apparently, Bitcoin holders had begun selling their holdings and taking profits around Friday, September 13.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin accumulation Btc Btcusd BTC news Btc price BTCUSDT Bitcoin price Bitcoin Bitcoin Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-16 @ 16:30:26 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22542840

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