Bitcoin Whales Accumulate $6.16 Billion Worth of BTC in Just Three Weeks, says Crypto Analyst
Renowned crypto analyst Ali Martinez reveals that Bitcoin whales, or deep-pocketed investors, have acquired a staggering $6.16 billion worth of Bitcoin (BTC) within the span of three weeks. This spree of purchases has contributed to the rise in BTC holdings by these notable investors. Martinez took to social media platform X to share the news with his followers.
“Bitcoin whales have been on a buying spree, acquiring 140,000 BTC over the past three weeks, amounting to $6.16 billion!” Martinez writes in a recent Twitter thread, emphasizing the significant increase in Bitcoin investments by these influential players.
The increase in BTC holdings by crypto whales coincides with Martinez’s observation of Bitcoin’s Super Trend, an indicator that aids traders in identifying market trends. According to the crypto strategist, the Super Trend indicator has historically been an accurate predictor of Bitcoin bull runs.
“The Super Trend just flashed a buy signal on the Bitcoin monthly chart, a tool known for its precision in predicting BTC bull markets. The four buy signals it has issued since BTC inception have all been validated, leading to gains of 169,172%, 9,900%, 3,680%, and 828%, respectively,” Martinez explains, underlining the reliability of this indicator.
Currently, Bitcoin is trading at $48,157, reflecting its strong market position.
Concluding his analysis, Martinez also highlights meme coin Pepe (PEPE) and its potential for a bullish rally. The three-day chart for PEPE appears to be forming a bullish inverse head-and-shoulders pattern, which indicates a potential price reversal. Moreover, the Tom Demark (TD) Sequential indicator is also signaling a bullish move, further reinforcing the outlook for this meme crypto asset.
“PEPE is currently showing signs of forming the right shoulder of [an inverse] head-and-shoulders pattern on its three-day chart. Additionally, the TD Sequential indicator has issued a buy signal within this timeframe, suggesting an anticipated bullish impulse for PEPE,” Martinez comments, drawing attention to the promising prospects for PEPE.
At present, PEPE is trading at $0.000001, showcasing its current value in the market.
Analyst comment
This news can be evaluated as positive. The fact that Bitcoin whales have been accumulating a significant amount of BTC in a short period indicates a strong belief in the future value of Bitcoin. The Super Trend indicator also suggests a potential bull run. As for the meme coin Pepe, its formation of an inverse head-and-shoulders pattern and the TD Sequential indicator’s buy signal indicate a potential bullish move. Therefore, the market is expected to experience upward momentum for both Bitcoin and PEPE.
