#RLUSDApprovalBoostXRP Bitcoin Whales Deploy More Funds During Dip, Creating 342 New Wallets 🚨

Bitcoin whales are back in action! 🐋 Here's how the recent dip played out in their favor:

🔻 Price Volatility:

Bitcoin reached a weekly high of $104,000 before dropping below $94,400.

Now recovering, Bitcoin is heading back toward the $100K milestone, showcasing ongoing market fluctuations.

👜 Whale Activity Surges:

During the dip, 342 new wallets holding 100+ Bitcoin were created.

These wallets emerged as prices fell from $104,000 to the $90,000 region, signaling strategic accumulation by large holders.

📊 Analyst Observations:

Whales historically capitalize on dips, bolstering their positions for long-term gains.

Data from IntoTheBlock shows stable whale holdings over the last 30 days, reflecting their confidence in Bitcoin's trajectory.

Mid-Tier Investors:

Mid-level investors increased their holdings by 2.69% in the past month.

Indicates growing market participation and accumulation among mid-tier holders.

Retail Participants:

Retail holders experienced a 0.23% decline, suggesting reduced activity or minor sell-offs during the dip.

🔥 Bullish Technical Patterns & Price Projections:

📌 Cup-and-Handle Formation:

Bitcoin’s price recovery from its 2022 low of $15,200 to recent highs completed the cup formation.

Consolidation between $50,000 and $70,000 formed the handle, leading to a breakout above $69,000.

Analyst Ali Martinez projects a price target of $275,000 based on this bullish pattern.

📊 MVRV z-score Insights:

Messari founder Ryan Selkis highlights Bitcoin’s z-score of 3, indicating significant growth potential.

Historical market tops range from 7-10, leaving room for Bitcoin to rise further.

Selkis targets $180K as a threshold before considering sales.

💡 Key Takeaway:

📌 Disclaimer: This content is for informational purposes only and does not constitute financial advice.#RLUSDApprovalBoostXRP