Surge In Bitcoin Activity: Whales Transactions Hit New Highs, Is A Bull Run Brewing?

Quick Summary:

Bitcoin is witnessing a surge in network activity as large investor transactions, also known as whales, have skyrocketed significantly to new highs in light of recent broader market confidence. In comparison to the trading volume in the past few days, the growth is notable as the crypto asset’s price has started to recover from its lows.

Despite these developments being seen as bullish indicators, Santiment claims that they are signs that the heightened crowd FOMO and profit-taking by key stakeholders could be putting the next rally on hold.

For the first time since July 27, Bitcoin made up about 25.5% of the overall social media discussion towards crypto assets.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: HungaryJapan

Topics: Btcusd God Candle Bitcoin News Fomo Btc Accumulation Phase Bitcoin Whale Transactions Santiment BTCUSDT Bitcoin Japan Stock Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 00:00:35 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 474 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23111848

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 17 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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