Interestingly, this trend supports the presently strong bullish sentiments around Bitcoin driven by multiple factors most notably expectations of US pro-crypto policies. With the inauguration of Donald Trump less than three days away, investors are hopeful the Republican will implement his promises to the crypto community which include but are not limited to the national Bitcoin reserve, and the overturn of the SAB 121 policy among others. In addition, BTC investors are also bullish on the performances of the Spot Bitcoin ETFs following an impressive debut year during which they recorded $37.10 billion in net cumulative total net inflow.
Related Reading: Bitcoin Price Forecast Of $150,000 Too Low’ Amid Rising Adoption, Crypto Trader Says Ash Tiwari 1 hour ago Bitcoin Whale Wallets Heading For 18,000 In a new post on X, prominent blockchain analytics firm Santiment provided a live update on the Bitcoin market amid the current uptrend.
This development is particularly important as an increase in Bitcoin whales signals accumulation which is a common bullish signal. Considering that this accumulation is occurring in price zones near Bitcoin’s current all-time of 108,268, it can be inferred that large BTC holders are highly expectant of significant price gains leading to a new price discovery.
The story "Bitcoin Whales On The Rise As Market Sees Price Boom – What It Means" has 428 words across 61 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin Whales On The Rise As Market Sees Price Boom – What It Means" was covered 21 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 7 news stories per day.
It's most recent story was published 11 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
