Increased Bitcoin whale accumulation could have this impact on BTC in Q1 2023

BTC whales intensified accumulation in the last eight weeks. Open Interest and Funding Rates revealed that investors harbored bullish sentiments. Increased whale activity since the commencement of the new trading year has led to a 26% growth in the price of Bitcoin [BTC], as per a 14 January tweet from Santiment. 🐳 Amongst many of […]

For example, despite the FTX debacle in November 2022 and the consequential decline in BTC’s value, traders were undeterred and continued to take long positions.found that BTC logged the highest spot inflow on 13 January, which showed that holders of 1000 to 10,000 BTC had resumed sending their holdings to exchanges.

While the increase in an asset’s exchange inflow is often regarded as a bearish sign, it could also mean that the asset is becoming more liquid and easier to trade, which can be positive for the market.“For bulls, the range between 19k – 19.2k is key. If they break that range and maintain above, we can go further, heading 23k – 24k. Otherwise, we will retest 15.6k and trade lower levels below 15k.

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