{"id":564108,"date":"2023-12-06T12:00:02","date_gmt":"2023-12-06T12:00:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=564108"},"modified":"2024-06-11T07:00:07","modified_gmt":"2024-06-11T07:00:07","slug":"bitcoin-bull-rally-large-whales","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bull-rally-large-whales\/","title":{"rendered":"Bitcoin Bull Rally Is Far From Over According To These Large Whales"},"content":{"rendered":"

Bitcoin has <\/span>really heated up<\/span><\/a> in the past few weeks, pushing its price above consecutive price resistances to reach new yearly highs. Bitcoin recently <\/span>pushed past $44,000<\/span><\/a>, registering gains of <\/span>15% in a 7-day timeframe<\/span><\/a>.\u00a0<\/span><\/p>\n

However, while the price gain can be partly attributed to hype around the <\/span>spot Bitcoin ETFs<\/span><\/a>, on-chain data shows increased activity among many big holders. According to the on-chain analytics platform Santiment, the recent surge in the price of BTC has been connected with an increase in the number of wallets holding more than 100 BTC.<\/span><\/p>\n

Large Bitcoin Wallets Increase Purchases<\/h2>\n

An X post by Santiment has revealed the amount of wallets holding 100 BTC or more has been on the rise for four weeks. Bitcoin went through unprecedented gains in October, and whales and large holders holding between 100 and 1,000 BTC <\/span>increased by 16 wallets<\/span><\/a>. As a result, BTC continued on its price climb, pushing $30,000, the first of many to come in the following weeks.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Rises To $41,000: How Much Profit Has Microstrategy Made On Its BTC Bet?<\/a><\/div>\n

However, Santiment data shows that the number of large wallets saw a big drop-off on November 9, correlating with a brief period of profit-taking which saw Bitcoin drop from $37,000 to $35,500 by November 15.\u00a0<\/span><\/p>\n

Things started to change by mid-November, indicating that the bull rally wasn\u2019t slowing down. The number of whale addresses holding 100 BTC or more started to rise around this time period, and 48 of these whale wallets have returned in the past four weeks, indicating these large players have been busy stocking up on BTC during the rally. According to Santiment data, there are now around 16,000 of these wallets.<\/span><\/p>\n

\n

\ud83d\udc33 #Bitcoin<\/a>‘s climb has continued, reaching $44K just 2 hours ago. The amount of existing 100+ $BTC<\/a> wallets have correlated tightly with this price climb. Since a big drop-off on November 9th, 48 of these whale wallets have returned in the past 4 weeks. https:\/\/t.co\/4lNBvn1HB3<\/a> pic.twitter.com\/jJYVsPSbfk<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) December 5, 2023<\/a><\/p><\/blockquote>\n

More BTC Gains In December?<\/h2>\n

December has historically been a mixed month of performance for Bitcoin. However, the last time the crypto registered price gains in October and November, it would go on to spike another 46.92% in December. A repeat could see Bitcoin reach above $55,000 before the end of the year.<\/span><\/p>\n

\"BitcoinSource: X<\/pre>\n
The recent Bitcoin price rally is somehow different from past rallies, as <\/span>potential catalysts<\/span><\/a> for a price surge like <\/span>the next halving<\/span><\/a> and the <\/span>launch of spot Bitcoin ETFs<\/span><\/a> in the US are still yet to happen. Santiment’s on-chain metric regarding whale wallets reiterates the <\/span>position of many crypto analysts<\/span><\/a> predicting that the recent price surge is just the start of an extended bull run that will continue through 2024.\u00a0<\/span><\/p>\n
Related Reading: The Bulls Are Back: Crypto Institutional Inflows Balloon To 2021 Levels<\/a><\/div>\n
Bitcoin is currently trading at $43,767 after briefly touching over $44,000 for a few hours. According to crypto analyst Ali Martinez, the TD Sequential indicator indicates a possible price pullback for BTC to the $37,000 support zone.<\/span><\/p>\n
\n
A #Bitcoin<\/a> price correction is coming… The question is when?<\/p>\n
Well, the TD Sequential indicator suggests that a potential $BTC<\/a> price pullback could begin within the next 7 to 48 hours, based on the daily and three-day charts. \ud83d\udc40 pic.twitter.com\/UwI1IMq4jo<\/a><\/p>\n
\u2014 Ali (@ali_charts) December 5, 2023<\/a><\/p><\/blockquote>\n
\"Bitcoin\"<\/p>\n
BTC price reclaims $44,000 | BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from InfoMoney, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has really heated up in the past few weeks, pushing its price above consecutive price resistances to reach new yearly highs. Bitcoin recently pushed past $44,000, registering gains of 15% in a 7-day timeframe.\u00a0 However, while the price gain can be partly attributed to hype around the spot Bitcoin ETFs, on-chain data shows increased activity among many big holders. According to the on-chain analytics platform Santiment, the recent surge in the price of BTC has been connected with an increase in the number of wallets holding more than 100 BTC. Large Bitcoin Wallets Increase Purchases An X post by Santiment has revealed the amount of wallets holding 100 BTC or more has been on the rise for four weeks. Bitcoin went through unprecedented gains in October, and whales and large holders holding between 100 and 1,000 BTC increased by 16 wallets. As a result, BTC continued on its price climb, pushing $30,000, the first of many to come in the following weeks.\u00a0 Related Reading: Bitcoin Rises To $41,000: How Much Profit Has Microstrategy Made On Its BTC Bet? However, Santiment data shows that the number of large wallets saw a big drop-off on November 9, correlating with a brief period of profit-taking which saw Bitcoin drop from $37,000 to $35,500 by November 15.\u00a0 Things started to change by mid-November, indicating that the bull rally wasn\u2019t slowing down. The number of whale addresses holding 100 BTC or more started to rise around this time period, and 48 of these whale wallets have returned in the past four weeks, indicating these large players have been busy stocking up on BTC during the rally. According to Santiment data, there are now around 16,000 of these wallets. \ud83d\udc33 #Bitcoin‘s climb has continued, reaching $44K just 2 hours ago. The amount of existing 100+ $BTC wallets have correlated tightly with this price climb. Since a big drop-off on November 9th, 48 of these whale wallets have returned in the past 4 weeks. https:\/\/t.co\/4lNBvn1HB3 pic.twitter.com\/jJYVsPSbfk \u2014 Santiment (@santimentfeed) December 5, 2023 More BTC Gains In December? December has historically been a mixed month of performance for Bitcoin. However, the last time the crypto registered price gains in October and November, it would go on to spike another 46.92% in December. A repeat could see Bitcoin reach above $55,000 before the end of the year. Source: X The recent Bitcoin price rally is somehow different from past rallies, as potential catalysts for a price surge like the next halving and the launch of spot Bitcoin ETFs in the US are still yet to happen. Santiment’s on-chain metric regarding whale wallets reiterates the position of many crypto analysts predicting that the recent price surge is just the start of an extended bull run that will continue through 2024.\u00a0 Related Reading: The Bulls Are Back: Crypto Institutional Inflows Balloon To 2021 Levels Bitcoin is currently trading at $43,767 after briefly touching over $44,000 for a few hours. According to crypto analyst Ali Martinez, the TD Sequential indicator indicates a possible price pullback for BTC to the $37,000 support zone. A #Bitcoin price correction is coming… The question is when? Well, the TD Sequential indicator suggests that a potential $BTC price pullback could begin within the next 7 to 48 hours, based on the daily and three-day charts. \ud83d\udc40 pic.twitter.com\/UwI1IMq4jo \u2014 Ali (@ali_charts) December 5, 2023 BTC price reclaims $44,000 | BTCUSD on Tradingview.com Featured image from InfoMoney, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,19064,1119,89185,1122,83757,1144,78790],"class_list":["post-564108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btc-whales","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Bull 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bull Rally Is Far From Over According To These Large Whales","url":"http:\/\/uniquehot.com\/news\/bitcoin-bull-rally-large-whales\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-bull-rally-large-whales\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-whales-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-whales-Small.jpeg?fit=320%2C200"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin whales","btc","btc news","btc price","btc whales","btcusd","btcusdt"],"dateCreated":"2023-12-06T12:00:02Z","datePublished":"2023-12-06T12:00:02Z","dateModified":"2024-06-11T07:00:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bull Rally Is Far From Over According To These Large Whales\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bull-rally-large-whales\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bull-rally-large-whales\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitcoin-whales-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitcoin-whales-Small.jpeg?fit=320%2C200\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btc whales\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-12-06T12:00:02Z\",\"datePublished\":\"2023-12-06T12:00:02Z\",\"dateModified\":\"2024-06-11T07:00:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-whales-Small.jpeg?fit=320%2C200","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/564108"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=564108"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/564108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/564129"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=564108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=564108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=564108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}