BTC to $135K as Whales Buy the Dip?

As prices fell, Bitcoin whales accumulated, according to recent statistics. According to crypto expert BTC whale piling increased throughout the drop. They also profited today as the price rose beyond $100,000 again.

Bitcoin Whale Accumulation & Macroeconomics
Martinez disclosed on X that Bitcoin whales built 342 wallets with over 100 BTC when BTC declined from $104,000 to $90,000. This suggests that major investors' continuous interest throughout market corrections may have contributed to today's rebound despite good macroeconomic circumstances.

Investors watched U.S. economic figures for Federal Reserve action. The Labor Department's November Consumer Price Index (CPI) showed annual inflation of 2.7%, up from 2.6% in October. This matches market expectations, prompting speculation of a Federal Reserve interest rate drop at the FOMC meeting.

Monthly headline CPI grew 0.3% vs 0.2% in October. Core CPI, which excludes volatile items like food and energy, was 3.3% year-over-year, unchanged from the previous month. Monthly core inflation held at 0.3%. The consistent core inflation report has led market investors to expect further monetary easing.

The U.S. 10-year Treasury yield rose 0.12% to 4.228% after the CPI news, while the Dollar Index fell 0.06% to $106.020. Bitcoin and other major cryptocurrencies rose after a rough start to the week.

Bitcoin rose 3.72% to $100,332.94 at press time. The 24-hour high was $100,442, after last week's record $103,900. Trading volume fell 14.89% to $95.84 billion due to unfavorable mood earlier today.

Altcoins including Ethereum (ETH), XRP, and Solana (SOL) also gained, suggesting investor optimism. Market confidence was high at 73 on the crypto Fear and Greed Index. Although market volatility persists, Martinez predicted a Bitcoin price objective of $135,000.

Market players anticipate Producer Price Index (PPI) data, which may affect Federal Reserve policy and the crypto market.

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