Crypto market whales ‘aggressively’ buy BTC in bullish signal

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Bitcoin remains in a period of consolidation at the start of the week, with the price staying within the $33,000 to $36,000 range since the beginning of July.

The cryptocurrency dropped in value by around 5 per cent overnight but remains above $34,000 on Monday morning.

Other leading cryptocurrencies, including Ethereum (ether), dogecoin, and Cardano (ada) have seen a similar stint of stability in recent days, though current trends suggest price gains could be on their way.

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The latest crypto market data from analytics firm Glassnode shows that there has been a significant uptick in so-called whale accounts, which is typically a bullish signal.

An increase in crypto whales – addresses holding more than 1,000 bitcoins – occurred in tandem with the record-breaking run that took bitcoin to its all-time high above $64,000 in April.

Source: Independent