News View Non-AMP

Bitcoin Whales Unstoppable, $283M Fresh BTC Purchase Amid ATH

Published by
Chandan Gupta

On November 22, 2024, all eyes are on Bitcoin (BTC), the world’s largest cryptocurrency by market cap, as it approaches the long-anticipated $100,000 mark. With a significant price surge of over 5% in the past 24 hours, the asset has reached a new all-time high of $98,988, shifting the overall market sentiment to bullish.

Bitcoin Whales Bags $283 Million of BTC

Amid this bull run, Bitcoin whales appear unstoppable as they have made continuous and significant BTC purchases in the past 12 hours. Recently, a whale transaction tracker Lookonchain made a post on X (previously Twitter) that crypto whales have purchased a significant 2,895 BTC worth $283 million from Binance, the world’s largest cryptocurrency exchange.

In a post on X, Lookonchain noted that the whales are currently accumulating the asset as it price continue to soar.

The potential reasons for BTC’s bullish outlook include the current market sentiment, notable adoption by whales and institutions in recent days, the resignation of SEC Chairman Gary Gensler, and other factors.

With this bullish outlook, Bitcoin is currently trading near $98,600 and has experienced an impressive price surge of over 5.2% in the past 24 hours. During the same period, its trading volume jumped by nearly 50%, indicating heightened participation from traders and investors as market sentiment has shifted.

Will BTC Hit $100,000? Key Levels to Watch

According to expert technical analysis, Bitcoin appears bullish and has been consolidating in a tight range between the $96,320 and $98,100 levels over the past few hours. Based on recent price action, if BTC breaks out of this consolidation and closes a four-hour candle above the $98,100 level, there is a strong possibility that it could reach $100,000 in the coming hours.

Currently, the asset is trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating an uptrend. Meanwhile, its Relative Strength Index (RSI) suggests a potential upside rally may be imminent.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Uniswap (UNI) Price Set for 30% Surge? Key Levels to Watch

UNI, Uniswap's native token, appears bullish and is poised for massive upside momentum after a…

April 2, 2025

M2 Money Supply vs. Global Liquidity: Don’t Get Mistaken!

The crypto market is always shifting based on global money trends, but a new debate…

April 1, 2025

XRP’s Worst-Case Scenario Could See a Drop to $0.30

XRP holders are finding themselves at a crossroads as recent market trends raise questions about…

April 1, 2025

Bitcoin’s Price Dropped by 5%—Experts are Seizing the Moment: RUVI AI’s Token Presale Launching in a few Hours

Bitcoin, the flagship cryptocurrency, has taken a hit with a 5% drop in its price.…

April 1, 2025

Will Dogecoin (DOGE) Crash or Skyrocket?: Data

Amid market uncertainty, Dogecoin (DOGE), a popular and the world’s largest crypto meme coin, appears…

April 1, 2025

Should Shiba Inu (SHIB) & Dogecoin (DOGE) Be Worried? Panshibi (SHIBI) Emerges As Best New Investment Pick This Easter!

According to historical footprints in the global crypto market, festive seasons are always important for…

April 1, 2025