Blue Chip Institutions Driving Bitcoin Price Action
We are few week way from the bitcoin Halving and the
king crypto has made some bullish market movement, which is quite tremendous as we saw the asset crossing the $50k market trading price. From which sector can this increase be attributed to, from analysis it was said that the recent market movement is cause by institutional investors moving into the space.
Making analysis on the recent bitcoin surge, a crypto analyst made a trend on the recent market happenings as he tweeted that the force behind this movement are blue chips institutions which he said that there have been over 100,000 bitcoin accumulation in the ten days by whales. -“ This trend points towards a lack of retail participation in the current BTC bull rally, suggesting that the recent price action is primarily fueled by institutional demand.”
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