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Home » BTC price targets $72K as Bitcoin whales imitate traditional bull market tactics
Bitcoin

BTC price targets $72K as Bitcoin whales imitate traditional bull market tactics

2024-03-28No Comments1 Min Read
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BTC price targets $72K as Bitcoin whales imitate traditional bull market tactics
BTC price targets $72K as Bitcoin whales imitate traditional bull market tactics
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Bitcoin (BTC) rallied at the start of the week, defying market concerns. The price of BTC surpassed $71,000, recovering from a period of flash volatility caused by an ongoing legal dispute between Coinbase and the SEC. Despite briefly dipping below the key support level of $69,000, buyers quickly stepped in and pushed the price higher, aiming to reach new all-time highs. However, traders cautioned about potential fakeout price behavior resulting from manipulative liquidity moves. Bitcoin whales, who are long-term investors with significant exposure, have been selling their coins to institutional buyers, particularly those associated with U.S. spot Bitcoin ETFs. The shift in ownership among the biggest BTC hodlers has been observed, while mainstream interest in Bitcoin has waned in recent weeks. It is important for readers to conduct their own research and exercise caution when making investment decisions.

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