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🤔🤔🤔🤔 After hitting a new ATH two months after spot Bitcoin ETFs were approved in January, Bitcoin price has dropped 22% but still recorded strong support near $60,000.

🧐🧐According to the analytics company, this support level is significantly influenced by the behavior of new whale groups. They argue that price trends and actual supply across different groups of Bitcoin addresses drive market dynamics and impact future prices.🪂🪂

- CryptoQuant analyst shared a chart that shows the actual price trends of new whales, old whales, and addresses with balances exceeding 10,000 $BTC . 💵💵

• Real price of new whales🐬: The green line represents new whales, defined as addresses with an average coin age of less than six months and holding more than 1,000 $BTC . The real price has increased significantly significantly, closely tracking Bitcoin's market price, showing continued accumulation at higher prices.

• Actual price of old whales🐬: The orange line represents old whales, which are addresses with an average age of more than six months and holding more than 1,000 BTC. Actual prices have remained relatively stable, suggesting that these Bitcoin holders have a stable and lower average cost base.

• Real Price of Wealthy Whales🦈: The purple line represents addresses with balances above 10,000 $BTC . This line shows a steady increase in line with the overall upward trend in the market.

#bitcoin #binance #EarnFreeCrypto2024