After a brutal sell-off over the last four days, the world’s largest cryptocurrency Bitcoin has shown a healthy bounce back gaining 5%. The Bitcoin price has surged back above its 200-day moving average of $50,000.
As of press time, BTC is trading 4.36% up at a price of $51,230 with its market cap just short of $1 trillion. Amid the recent market sell-off, Bitcoin tested its support at $43,500 before bouncing back once again. during this price correction, the Bitcoin mega whale addresses have been accumulating heavily. As on-chain data provider Santiment explains:
Bitcoin has recovered back to $50.1k Monday, and whale traders played the dip to perfection. Beginning during the dump to $43.5k, addresses holding 100 to 10k $BTC have accumulated 67k more $BTC after dumping the same amount before the price drop.
Courtesy: Santiment
As we know that bitcoin and the broader crypto market have been under the pressure of changing macros with the spread of the Covid Omicron variant. Speaking
We współpracy z: https://coingape.com/whale-re-accumulation-bulls-bitcoin-btc-above-50000-broader-market-recovers/
