Bitcoin Accumulation: 2 Million Addresses Bought 1.1 Million BTC Between $66,900–68,900
CryptoNewsTerminal Staff03 Jun, 2024
Bitcoin Accumulation: 2 Million Addresses Bought 1.1 Million BTC Between $66,900–68,900
Bitcoin has strong on-chain demand between $66.9K and $68.9K, contributing to the current price action around $69K. Within this range, 2 million+ addresses bought a total of 1.1 million BTC. This accumulation trend suggests that a significant number of investors are accumulating Bitcoin at these price levels, indicating long-term bullish sentiment. The substantial number of addresses involved reinforces the notion that this is not solely driven by a few whales but rather by a broad range of market participants. The accumulation phase may indicate that investors are anticipating a potential price increase in the future, as they are willing to acquire BTC at current levels. It is worth noting that market conditions can change rapidly, and investors should always exercise caution and conduct their own research before making any investment decisions.
