Bitcoin Whales On The Rise As Market Sees Price Boom – What It Means
Following an earlier price crash to below $90,000, Bitcoin closed out the past week with an impressive price surge resulting in a net 9.30% gain. During this price rally, Santiment reports a significant network development with bullish indications for the largest cryptocurrency. Bitcoin Whale Wallets Heading For 18,000 In a new post on X, prominent blockchain analytics firm Santiment provided a live update on the Bitcoin market amid the current uptrend. Notably, Bitcoin produced another robust positive trading week making a near full-price rebound from its correction in late December. The BTC market was particularly bullish on Friday as prices surged by over 7% to trade as high as $105,970. Interstingly, Santiment reports that the number of whale wallets holding at least 100 BTC had increased to 17,799 right before Bitcoin hit this one-month high price milestone. This development is particularly important as an increase in Bitcoin whales signals accumulation which is a common bullish signal. Considering that this accumulation is occurring in price zones near Bitcoin’s current all-time of 108,268, it can be inferred that large BTC holders are highly expectant of significant price gains leading to a new price discovery. Source: SantimentInterestingly, this trend supports the presently strong bullish sentiments around Bitcoin driven by multiple factors most notably expectations of US pro-crypto policies. With the inauguration of Donald Trump less than three days away, investors are hopeful the Republican will implement his promises to the crypto community which include but are not limited to the national Bitcoin reserve, and the overturn of the SAB 121 policy among others. In addition, BTC investors are also bullish on the performances of the Spot Bitcoin ETFs following an impressive debut year during which they recorded $37.10 billion in net cumulative total net inflow. For 2025, the President of the ETF Store, Nate Geraci predicts the Spot Bitcoin ETFs will permanently accumulate more net assets than physical gold ETFs, which would translate to significant gains for the premier cryptocurrency in terms of price and adoption. BTC Price Overview At the time of writing, Bitcoin was trading at $104,174 following a 3.19% price increase in the past 24 hours. On the same positive note, the asset’s daily trading volume currently stands at $65.88 billion following its 16.27% gain. Investors should note that Bitcoin’s relative strength index is currently at 69.16 heading for the overbought zone. Therefore, there is potential for a reversal soon. With a market cap of 2.06 trillion, Bitcoin remains the largest digital asset accounting for 56.4% of the total crypto market cap. Related Reading: Bitcoin At Risk Of Supply Shock As ETF Issues Buy More BTC Than Was Produced In December BTC trading at $104,333 on the daily chart | Source: BTCUSDT chart on Tradingview.comFeatured image from Xcoins, chart from Tradingview Semilore Faleti Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future. Disclaimer: The information found on NewsBTC is for educational purposes only. 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