Bitcoin price 21% dip ‘normal’ as accumulator wallets buy 50K BTC in day

💡 DMK Insight

Bitcoin’s recent dip below $100,000 has sparked a significant accumulation trend, and here’s why that matters: With 375,000 BTC purchased in the last month, including a notable 50,000 BTC on Tuesday alone, it signals strong bullish sentiment among accumulators. This buying spree suggests that many traders see the current price as a bargain, especially after the recent volatility. If this trend continues, we could see upward pressure on Bitcoin’s price, potentially pushing it back above the $100,000 mark in the near term. But it’s worth noting that such aggressive accumulation can also lead to increased volatility. If profit-taking occurs as Bitcoin approaches key resistance levels, like $110,000, we might see a pullback. Traders should monitor the daily trading volume and sentiment indicators closely. Watch for any signs of exhaustion in buying activity, as that could signal a shift in momentum. Keep an eye on the $100,000 level; it’s not just a psychological barrier but also a critical support level that could dictate Bitcoin’s next move.