Apr 9, 2025
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Bitcoin Recovers from Low as Whale Transaction Count Spikes
Bitcoin's recent price fluctuations have been accompanied by notable changes in whale activity, as indicated by a spike in the Whale Transaction Count. This metric measures transactions over $1 million on the Bitcoin blockchain.
Key Points
- Whale transaction activity has increased, suggesting heightened interest among large investors.
- The Whale Transaction Count reached 1,715 following a price dip, indicating a potential accumulation phase by whales.
- This increase in whale transactions has contributed to a recovery push for Bitcoin's price.
- However, whale activity has cooled off recently, raising questions about the sustainability of the price recovery.
- A transaction involving 365 BTC dormant for over ten years occurred, which historically signals bearish sentiment.
Currently, Bitcoin is priced around $79,700 after recovering toward $81,000 earlier.
