🚨🚨Bitcoin's Path to $135K: Whale Accumulation Spurs Optimism
Recent data highlights an intriguing trend in the Bitcoin market: whales have been actively buying the dip, fueling speculation of a potential rally to $135,000. As BTC prices retraced, large investors seized the opportunity to accumulate, according to insights from a leading crypto analyst. These strategic moves appear to have set the stage for Bitcoin’s recent surge past $100,000, despite ongoing market volatility.
Crypto expert Martinez noted that Bitcoin whales created 342 new wallets, each holding over 100 BTC, during the price correction from $104,000 to $90,000. This accumulation phase underscores the confidence of high-net-worth investors in the long-term potential of the cryptocurrency. Such sustained activity, coupled with favorable macroeconomic developments, likely contributed to Bitcoin’s sharp recovery and renewed momentum.
On the macroeconomic front, investor sentiment was shaped by the latest U.S. inflation data. The Labor Department’s Consumer Price Index (CPI) for November revealed an annual inflation rate of 2.7%, aligning with market expectations and fueling speculation of a potential interest rate cut by the Federal Reserve. Core inflation remained steady at 3.3% year-over-year, providing further reassurance to investors anticipating a shift in monetary policy. Following the CPI release, the 10-year U.S. Treasury yield rose to 4.228%, while the Dollar Index dipped to 106.020. These developments bolstered risk-on assets, including cryptocurrencies, as Bitcoin posted a 3.72% gain to $100,332.
Market confidence remains robust, with the Crypto Fear and Greed Index showing a high score of 73, signaling optimism despite reduced trading volumes. Altcoins such as Ethereum (ETH), XRP, and Solana (SOL) also recorded gains, mirroring Bitcoin’s positive trajectory. As the market awaits Producer Price Index (PPI) data, analysts remain bullish, with projections of Bitcoin reaching $135,000 if the current momentum persists.
