Bitcoin and other cryptocurrencies, including Donald Trump's newly launched token, experienced a decline on Tuesday. This downturn followed the president's initial post-inauguration policies, which did not address the crypto market directly. Despite the dip, on-chain data shows large Bitcoin wallets are accumulating, indicating potential for future price growth.
Bitcoin, along with other cryptocurrencies and the newly launched token associated with Donald Trump , declined on Tuesday as the president’s initial policies post-inauguration failed to address the crypto market. Bitcoin had reached a record high of over $109,000 on Monday ahead of Trump’s swearing-in as the 47th US president but began to retreat shortly afterward.shared by Santiment, wallets holding 10+ BTC have been accumulating 1,002 Bitcoin daily over the past five days.
From July 20 to October 11, whales accumulated 164 BTC daily, coinciding with a 7.3% price decline. This trend shifted dramatically from October 11 to November 5, with 884 BTC added daily, resulting in a 9.8% price rise. The most significant accumulation occurred from November 5 to December 26, where 2,060 BTC per day were added, driving a 35.8% price surge. However, the December 26 to January 15 period saw slower activity, with 156 BTC added daily and a modest 6.2% price increase.
The current phase suggests renewed interest, as the 1,002 BTC daily accumulation indicates large wallet holders’ confidence in Bitcoin’s upward potential. Santiment highlighted the importance of monitoring whale and shark behavior as a predictive market indicator. High accumulation rates often signify optimism among key stakeholders, whereas stagnation or declining holdings may signal market volatility or corrections.
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BITCOIN CRYPTOCURRENCIES DONALD TRUMP MARKET VOLATILITY WHALE ACCUMULATION
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