Bitcoin’s Recent Uptick In Whale Activity Sparks Optimism

Bitcoin’s recent uptick in whale activity sparks optimism, thereby indicating a growing trend. This surge aligns with smaller investors moving up, showcasing a broadening interest in cryptocurrency. According to Glassnode data, whales sent about 21,000 BTC to exchanges within 48 hours. This coincided with a market rally that pushed Bitcoin above $26,000.

Check out for more via X:

Enrico Galliera reveals Ferrari's partnership with BitPay in the U.S., allowing transactions in #Bitcoin , #Ethereum, and #USDC 🏎

This strategic move is in response to market & dealer demand. The best part? No additional fees! 💰 pic.twitter.com/4VT6P1relT

— BrotherHood (@BHVenture) October 14, 2023

🐳 #Bitcoin‘s whale numbers had another huge accumulation day. 16 more wallets now hold between 100-1K $BTC, and they correlate with smaller wallets ‘graduating’ to the next tier. As key stakeholders grow, the argument for a #bullish future gets stronger. https://t.co/DOvRLpGspw pic.twitter.com/EQW8jZsTtn

— Santiment (@santimentfeed) October 14, 2023

Simultaneously, retail investors are accumulating Bitcoin at an unprecedented rate, adding 28,000 BTC monthly, a historic record. As Ferrari’s chief marketing and commercial officer, Enrico Galliera has emphasized, the luxury car giant is now accepting cryptocurrency payments to appeal to crypto investors. These developments underscore a potentially positive future for Bitcoin as significant stakeholders increase holdings and mainstream adoption grows.

Bitcoin Critical Levels To Watch: October 15

BTCUSD rallied rapidly into the $28661.00 demand zone in April 2023. The price declined afterward, only to resume its uptrend after retesting $24750.00 and breaking the diagonal resistance on June 20, 2023. The uptrend continued until a major high formed at the $31862.00 price level.

The emerging downward retracement led to the formation of two lows at the $25235.00 and $24900.00 price levels. The uptrend appears to have resumed as a new trading range formed between the $28661.00 and $24900.00 price levels. According to the Stochastic Oscillator, BTCUSD is likely to make a rapid expansion to the upside as the price reaches the oversold region.

Bitcoin Critical Levels

Resistance Levels: $28661.00, $31862.00, $36800.00
Support Levels: $24750.00, $22655.00, $19569.00

Bitcoin’s Metrics

Total Market Capitalization: $1.06T
Bitcoin Market Capitalization: $530B
Bitcoin Volume: $5.60B
Market Rank: #1

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.