Bitcoin whales have been actively accumulating during recent price dips, as highlighted by crypto analyst Ali Martinez. During the recent dip, 342 wallets with over 100 BTC were created, indicating sustained interest from large investors during market corrections. This could have contributed to the recent recovery, given favorable macroeconomic conditions.
Meanwhile, investors are closely monitoring U.S. economic indicators for signs of further Federal Reserve action. The latest Consumer Price Index (CPI) report revealed that annual inflation increased to 2.7% in November, up slightly from October’s 2.6%. This aligns with market forecasts, leading to speculation about a potential interest rate cut at the Federal Reserve’s upcoming Federal Open Market Committee (FOMC) meeting.
The steady core inflation data is interpreted as a sign that further monetary easing may be on the horizon. In response to the CPI report, the U.S. 10-year Treasury yield increased by 0.12% to reach 4.228%, while the U.S. Dollar Index dipped slightly by 0.06% to $106.020. The crypto market rebounded after a turbulent start to the week, with Bitcoin and several major altcoins posting gains.
Martinez projects a potential Bitcoin price target of $135,000, reflecting ongoing optimism despite market volatility. Market participants are now awaiting the Producer Price Index (PPI) data, which may further influence Federal Reserve policies and the trajectory of the crypto market.
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<p>The post Bitcoin Whales Accumulate Amid Dip, Rewarded by Price Rebound first appeared on CoinBuzzFeed.</p>
