LIVE💰📈 Bitcoin Rockets Past $46K Amidst Whale Accumulation, Hinting at Further Gains
BTC surged above $46,000 today, hitting a fresh four-week high, fueled by increased accumulation by large holders and record highs in U.S. equity indices.
The leading cryptocurrency saw a significant uptick from $42,700 to $44,300, marking its highest level since Jan. 12, just after the debut of spot bitcoin exchange-traded funds (ETF) in the U.S.
Over the past 24 hours, Bitcoin's 2.5% surge outpaced the CoinDesk 20's 1.6% gain, with Ether also rallying by 2.3%. Meanwhile, Cardano experienced a slight dip of 0.4%.
Analysts noted a reversal in the market sentiment, suggesting that increased selling pressure from miners had been countered by heightened accumulation from whales. Wallets holding over 1,000 BTC surged to a multi-month high, indicating growing confidence among large investors.
The buoyancy in U.S. stock markets, with record highs in the S&P 500 and Nasdaq Composite, likely bolstered sentiment in the crypto space. Additionally, concerns surrounding New York Community Bancorp's liquidity issues eased, further supporting risk assets.
On the altcoin front, Ethereum's ether soared above $2,400, driven by renewed optimism around spot ETFs. Updates to ETF applications, aligning with Bitcoin ETF structures, fueled anticipation, with the possibility of token staking adding to the optimism.
Altcoins like MATIC, OPT, ARB, and LDO also witnessed gains, riding the wave of Ethereum's resurgence.
Exciting times ahead as Bitcoin and altcoins ride the wave of positive sentiment and institutional activity! 🚀💎
