Bitcoin Accumulation: You Won’t Believe How Much BTC Holders Have Bought Since The Crash

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,163,284,489,249	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,163,284,489,249

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,033.42	1.77%	59,271.15	59,271.14	59,271.15

Price Change

Price Change %

Current Price

Bid Price

Offer

1,033.42

1.77%

59,271.15

59,271.14

59,271.15

High Price	Low Price	Open Price	Prev. Close	52 Week Range
59,641.03	56,903.79	58,384.58	58,237.73	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

59,641.03

56,903.79

58,384.58

58,237.73

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:43:53	0.000046	59,271.15	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:43:53

0.000046

59,271.15

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,021,202,782.93	17,457.43	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,021,202,782.93

17,457.43

Bitcoin Accumulation: You Won’t Believe How Much BTC Holders Have Bought Since The Crash

19/04/2024 10:00pm

NEWSBTC

Bitcoin holders have again reaffirmed their faith in the flagship crypto despite its recent price declines. This follows recent data showing that Bitcoin accumulation addresses recorded a new all-time high (ATH) amidst the current market downward trend. Accumulation Addresses Record New All-Time High Of Bitcoin Inflows Data from the on-chain analytics platform CryptoQuant shows that over 27,700 BTC was transferred into accumulation addresses between April 16 and 17. This is a new all-time high (ATH) for these addresses in terms of their daily Bitcoin inflows. Related Reading: Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’ Before now, the highest amount of BTC sent to these addresses in a day stood at 25,500, recorded on March 23 earlier this year. Interestingly, the March 23 record came just about a month after Bitcoin inflows into accumulation addresses hit an all-time high (ATH) of 25,300 BTC on February 21. Accumulation addresses are wallets with no outgoing transactions and have a balance of over 10 BTC. Accounts belonging to centralized exchanges and Bitcoin Miners are excluded from this category. Meanwhile, these addresses must have received two incoming transactions, with the most recent occurring within the last seven years. These addresses can be considered the most bullish on Bitcoin, and the growing accumulation trend from these wallets shows how much faith these long-term holders have in the flagship crypto. Furthermore, they are also believed to be positioning themselves ahead of the bull run, as BTC may never drop to these price levels once it comes into full force. Meanwhile, CryptoQuant’s CEO, Ki Young Ju, also highlighted the significance of this development, noting that on-chain accumulation has remained “very active” even as the demand for Spot Bitcoin ETFs has stagnated for four weeks. This suggests that Bitcoin bulls could help shore up the demand gap left open by these ETFs. BTC Price Shows Strength Bitcoin dropped below the $60,000 support level following reports about Israel’s retaliatory attack on Iran. However, the flagship crypto showed strength as it quickly rebounded above the $60,000 price mark. This is significant considering how much Bitcoin and the broader crypto market declined rapidly following Iran’s attack against Israel on April 13. Related Reading: XRP Whales Are On The Move Again, But Are They Bullish Or Bearish? Furthermore, the quick price recovery also suggests that Bitcoin has established strong support around the $60,000 price range and could be set for a parabolic move to the upside once this period of consolidation is over. Crypto analyst Crypto Rover also recently commented on Bitcoin’s future trajectory, stating that the crypto token will come out with a “banger” soon enough. At the time of writing, Bitcoin is trading at around $62,000, up in the last 24 hours according to data from CoinMarketCap. BTC price recovers above $64,000 | Source: BTCUSD on Tradingview.com Featured image from Crypto News, chart from Tradingview.com

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