Bitcoin whale accumulation has reached levels last seen before the 2020 bull run, according to Bitfinex research. Whales, entities holding at least 1,000 BTC, are accumulating at a pace reminiscent of pre-2020. Analysts suggest this trend, coupled with favorable macroeconomic conditions and reduced selling pressure, could push Bitcoin's price above $70,000. Despite minor setbacks, the overall market sentiment remains bullish, with traders eyeing significant upside potential.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.