The crypto market has skyrocketed again as Bitcoin (BTC) hits new highs not seen since August 2022. According to leading crypto analyst site Santiment, the world’s most popular digital currency has now surged above $22,700 for the first time, hitting that level since August 18, 2022.π³ #Bitcoin has now surpassed $22.7K for the first time since August 18, 2022. The price surge comes as the large whale-tier group of $1,000-$10,000 BTC addresses collectively accumulated $64,638 ($1.46 billion) BTC over the past 15 days. π https://t.co/H6jCsZDgUR https://t.co/RaN2I48ybg
According to the latest data from CoinMarketcap, Bitcoin is currently trading at $22,976.12, indicating strong bullish sentiment and a possible break above $23,000. The daily and weekly charts also show impressive gains of 9.00% and 10.13%, respectively. Additionally, trading volume for BTC has increased significantly by 75% over the past 24 hours, further showing the bullish momentum of the market.
Source: Trade View
But what is driving this impressive surge in Bitcoin price? Experts point to the actions of a powerful group of investors known as the βwhalesβ who collectively amassed a massive 64,638 BTC (worth over $1.46 billion) over the past 15 days. This investment inflow from the 1,000 to 10,000 BTC whale tier address group has sent ripples through the crypto market and propelled Bitcoin to new heights.
This recent rally in the crypto market is sure to be welcomed by investors and traders who have been keeping an eye on Bitcoin’s advances over the past few months. It remains to be seen how high the digital currency can go, but one thing is certain: the crypto market is showing no signs of slowing down.
As the world’s leading digital currency continues to make ripples in the financial world, many experts are predicting this is just the beginning of an even more significant rally. With Bitcoin making new highs and showing no signs of slowing down, it’s clear that the crypto market is a force to be reckoned with.
4.283 million Bitcoin (BTC) returns to unrealized gain
In a recent development, data analysis firm Glassnode has reported that a significant volume of Bitcoin has returned to an unrealized profit position since the market lows set during the FTX collapse.
Since the market lows hit during the FTX collapse, a total of $4.283 million BTC has returned to an unrealized gain. This gives an indication of the volume of #Bitcoin that has traded and changed hands between $15.5K and $22.3K. π Live Chart: https://t.co/YLKRdbvfQ4 https://t.co/zWGtCHue54
According to Glassnode, a total of 4.283 million BTC, valued at between $15.5,000 and $22.3,000, were transacted and changed hands during this period. This gives a clear indication of the level of activity and movement in the market.
This news is particularly noteworthy as it suggests that the crypto market may be recovering from the recent turmoil caused by the FTX collapse. The return of such large Bitcoin volume to an unrealized profit position shows that investors are once again bullish about the future of the market.
It is worth noting that this is a positive sign for the crypto market and could be a sign of an uptrend in the near future. However, it is also important to remember that the market is always volatile and investors should exercise caution and do their own research before making any decisions.
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