Bitcoin whales have been active recently, accumulating significant amounts as the price dropped. 342 wallets containing over 100 BTC were created by whales as BTC price fell from $104,000 to $90,000, indicating sustained interest during market corrections. This whale activity may have played a role in the market’s recovery today with BTC price rebounding above $100,000.
Meanwhile, investors watched U.S. economic indicators for signs of Federal Reserve action. November’s Consumer Price Index (CPI) showed annual inflation increased slightly to 2.7%, aligning with forecasts and leading to speculation about a potential interest rate cut at the next Federal Reserve meeting.
With a stable core inflation data, further monetary easing may be on the horizon. The crypto market has rebounded and BTC price is now at $100,332.94, reflecting a 3.72% increase. Although trading volume dropped due to earlier bearish sentiment, key altcoins including Ethereum (ETH), XRP, and Solana (SOL) also registered gains, indicating improved investor confidence.
The crypto Fear and Greed Index stood at 73. Bitcoin analyst Ali Martinez projected a potential Bitcoin price target of $135,000, reflecting optimism despite market volatility. Market participants will be watching the Producer Price Index (PPI) data for further insights into Federal Reserve policies and the crypto market’s trajectory.
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<p>The post Bitcoin Whales Accumulate Amid Dips, Fueling Price Rebound first appeared on CoinBuzzFeed.</p>
