The blockchain intelligence company Santiment disclosed that whale and shark addresses are collectively stockpiling Bitcoin (BTC) in a tweet earlier today. There are currently 156,660 wallets holding between 10 and 10,000 BTC, according to the post. This came about after these enormous wallets amassed $308.6 million worth of Bitcoin since August 17, 2023.
Meanwhile, according to CoinMarketCap, the market leader was adjusting hands at $26,463.11 at the time of publication. After gaining 1.64% over the previous 24 hours, BTC was able to surpass the significant $26K mark. Despite the positive daily performance, the cryptocurrency’s weekly performance remained in the danger zone at -7.61%.
The altcoin market performed slightly better than BTC over the day’s worth of buying and selling. This was clear from the fact that BTC’s market share had decreased by 0.01%. The most significant cryptocurrency according to market cap then accounted for around 48.33% of the market’s valuation.
Technically speaking, sellers were currently benefiting from short- and medium-term momentum. Underneath the 20-day EMA line was the 9-day EMA line. All of those technical indicators were also placed below the 50-day EMA line. However, within the next two weeks, BTC’s value might increase to $30,070.
Over the course of the day’s worth of buying and selling, the altcoin market outperformed Bitcoin by a little margin. The fact that BTC’s market share had dropped by 0.01% made this obvious. The largest cryptocurrency by market capitalization at that time represented roughly 48.33% of the market’s value.
Technically, the short- and medium-term momentum was now favouring sellers. The 9-day EMA line was located below the 20-day EMA line. Also positioned below the 50-day EMA line were all of those technical indicators. BTC may, however, rise to $30,070 in value during the next two weeks.
