{"id":20622,"date":"2024-05-16T13:00:06","date_gmt":"2024-05-16T13:00:06","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20622"},"modified":"2024-05-16T07:44:18","modified_gmt":"2024-05-16T07:44:18","slug":"bitcoin-rebounds-as-whales-boost-accumulation","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-rebounds-as-whales-boost-accumulation\/","title":{"rendered":"Bitcoin Rebounds as Whales Boost Accumulation"},"content":{"rendered":"<p>The resumption of sideways movement of Bitcoin intensifies each day is supported by the immense demand from huge shareholders and the price peak would only be a matter of time, though analysts claimed it will take up to a month to come. These events mean that optimism of traders and analysers is rising, even though it is unlikely that the price of Bitcoin may hit a new peak for some times.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-rebounds-as-whales-boost-accumulation\/#Daily_Downtrend_Breaks_Price_Rises\" title=\"Daily Downtrend Breaks, Price Rises\">Daily Downtrend Breaks, Price Rises<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-rebounds-as-whales-boost-accumulation\/#Whale_Demand_Accelerates\" title=\"Whale Demand Accelerates\">Whale Demand Accelerates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-rebounds-as-whales-boost-accumulation\/#Optimistic_Market_Sentiment\" title=\"Optimistic Market Sentiment\">Optimistic Market Sentiment<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Daily_Downtrend_Breaks_Price_Rises\"><\/span>Daily Downtrend Breaks, Price Rises<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Based on data reporting by CoinMarketCap, the <a href=\"https:\/\/coinengineer.net\/blog\/renowned-investor-bitcoin-to-stay-in-this-range-for-a-month\/\">Bitcoin<\/a> price on May 15 ended the day at <strong>$65,854<\/strong> in value, which represented a 6% appreciation from the previous day. Pseudonymous crypto trader<strong> Rekt Capital<\/strong> discussed this up shift through the words<strong> &#8220;Bitcoin will probably stay around in the range low area for a while and will likely tilt upwards towards the range high over the time&#8221;.<\/strong> Note that this statement means breaking up of a widely known daily pattern of a descent that the Bitcoin currently was experiencing.<\/p>\n<p>Rekt Capital, on the other hand, remarked that Bitcoin has bounced from the midpoint of the distribution pattern between the \u201crange low\u201d of active purchasing and the convergence \u201crange high\u201d not exceeded since that euphoric day of Bitcoin\u2019s $73,797 marked on March 14. Although this is a bullish signal, it still could take several weeks to reach the top again as per their words<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Whale_Demand_Accelerates\"><\/span>Whale Demand Accelerates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Crypto data company CryptoQuant announced today that demand from Bitcoin whales (large holders of BTC) has started to step up once again. This is after a period of a decelerating trend between March and May. This revival of demand stability in the market is seen as a stabilising factor after the period of deceleration. &#8220;Bitcoin demand is escalating and it is in recovery after being in a decelerating<\/p>\n<p>It was also emphasized that the number of \u201cpermanent holders and total balance of the large investors\u2019 categories\u201d has significantly grown, which means that the biggest players in the market are acquiring more Bitcoin. Nevertheless, it stressed that for the bull run to materialize, an increase of this demand would require an even faster pace.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Optimistic_Market_Sentiment\"><\/span>Optimistic Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Sentiment remains positive in the markets, with mister crypto giving a \u2018pseudonymous trader\u2019 his prediction of a substantial price move. \u201cThe breakout of the Bitcoin bull flag will be incredible of course, just as I presciently said in the past, so I\u2019ll mark my words.\u201d, Mister crypto assured his followup on May 15 X-post.<\/p>\n<p>As of the time of this writing, Bitcoin stands at $65,954 mark with little balance across the over-the-counter (OTC) trading desks which reveals the rapid demand that lacks adequate supply.<\/p>\n<p>The conjunction of only today\u2019s price breaking to upward trend, accumulation by whales, and very positive sentiment the orders, the Bitcoin could gain in price in the next few weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The resumption of sideways movement of Bitcoin intensifies each day is supported by the immense demand from huge shareholders and the price peak would only be a matter of time, though analysts claimed it will take up to a month to come. These events mean that optimism of traders and analysers is rising, even though<\/p>\n","protected":false},"author":6,"featured_media":18211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[61],"class_list":["post-20622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Rebounds as Whales Boost Accumulation - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin\u2019s daily downtrend break and increased whale demand suggest a potential price surge, though analysts say new highs might take weeks. 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