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BTC At Risk of Visiting $27Ks if It Does Not Reclaim $29.6K

Published 03/08/2023, 11:53
Updated 03/08/2023, 12:45
© Reuters. BTC At Risk of Visiting $27Ks if It Does Not Reclaim $29.6K

  • Santiment data suggests that whales have been actively accumulating BTC over the past 12 weeks.

  • BTC needs to reclaim $29.6K to prevent a lower high from forming.

  • The 9-day EMA line crossed below the 50-day EMA line over the past 24 hours.

Whales have actively been accumulating Bitcoin (BTC) over the past 12 weeks, according to a Twitter post shared earlier today by the on-chain analytics platform, Santiment. There are about 15,870 BTC addresses that hold at least 100 BTC coins. Furthermore, Santiment’s data revealed that these whales own approximately 11.5 million BTC.

This BTC makes up more than half of the total existing supply. Additionally, these whales still seem to have a thirst for purchasing BTC as, since 16 May 2023, their collective share has risen by 27,755 BTC.

Meanwhile, Altcoin Sherpa, a cryptocur…

The post BTC At Risk of Visiting $27Ks if It Does Not Reclaim $29.6K appeared first on Coin Edition.

The post BTC At Risk of Visiting $27Ks if It Does Not Reclaim $29.6K appeared first on Coin Edition.

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