{"id":572781,"date":"2024-02-02T02:00:37","date_gmt":"2024-02-02T02:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=572781"},"modified":"2024-06-11T07:02:19","modified_gmt":"2024-06-11T07:02:19","slug":"bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\/","title":{"rendered":"Bitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \u2013 What\u2019s Driving The Surge?"},"content":{"rendered":"

According to data<\/a> shared by renowned crypto analyst Ali, Bitcoin has recently witnessed a significant development in its investment dynamics, marking a notable shift in the crypto market.<\/p>\n

In a post on X published earlier today, Ali disclosed that Bitcoin is experiencing a substantial accumulation streak, which has not been seen in nearly three years.<\/p>\n

According to the analyst, this surge in the Accumulation Trend Score indicates the growing confidence<\/a> among larger entities in the cryptocurrency market.<\/p>\n

Ali’s shared data further reveals that the Accumulation Trend Score for Bitcoin has consistently hovered near the peak level of 1 over the past four months. This sustained high score signals an active and ongoing accumulation by big investors.<\/p>\n

\n

#Bitcoin<\/a> is witnessing one of its most significant accumulation streaks in almost 3 years!<\/p>\n

Notably, the Accumulation Trend Score has hovered near 1 for the past 4 months, signaling that larger entities are accumulating $BTC<\/a>. This trend indicates strong confidence in the market! pic.twitter.com\/QcJOEhzBUb<\/a><\/p>\n

\u2014 Ali (@ali_charts) February 1, 2024<\/a><\/p><\/blockquote>\n

A Surge In Large-Scale BTC Holdings<\/h2>\n

Further complimenting this near 3-year accumulation trend streak, Ali’s recent data revealed that the Bitcoin market has welcomed approximately 67 new “whales.” These entities, each holding over 1,000 BTC, represent a 4.50% increase in this category of investors within two weeks.<\/p>\n

This increase in whale activity coincided with a period where Bitcoin experienced a notable dip, falling below the critical $39,000 threshold. Ali noted: “While some shivered with fear during the recent price correction, Bitcoin whales were accumulating more BTC.”<\/p>\n

\n

While some shivered with fear during the recent price correction, #Bitcoin<\/a> whales were accumulating more $BTC<\/a>!<\/p>\n

Around 67 new entities now hold 1,000 #BTC<\/a> or more, marking a 4.50% increase in two weeks. pic.twitter.com\/tje3fhznRR<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 30, 2024<\/a><\/p><\/blockquote>\n

This downturn was primarily attributed to a significant outflow from Grayscale, amounting to over $5 billion<\/a> since the Bitcoin Spot ETF was approved by the US Securities and Exchange Commission (SEC).<\/p>\n

\n

As of January 29, 2024, the number of Bitcoins held by Grayscale was 496,573.8166. Additionally, GBTC\u2019s AUM is approximately $21.431 billion. After the spot ETF passed, Grayscale users sold a total of 120,500 BTC, which is equivalent to approximately $5.508 billion.\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) January 30, 2024<\/a><\/p><\/blockquote>\n

However, as this outflow has cooled off, Bitcoin has shown signs of recovery, trading above the $42,500 mark and registering a 6.1% increase in the past week.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Bitcoin Poised For 40% Surge?<\/h2>\n

Shifting the focus to the broader financial landscape, Arthur Hayes, founder of BitMEX, has offered an analysis of current economic conditions and their potential impact<\/a> on Bitcoin. His commentary is particularly relevant in light of recent challenges faced by New York Community Bancorp (NYCB)<\/a> and the banking sector.<\/p>\n

The bank\u2019s significant stock decline, driven by unexpected losses and a substantial increase in loan loss reserves, has raised concerns about the stability and exposure of US regional banks, especially in the real estate sector.<\/p>\n

Hayes\u2019s remarks point to a possible near-future scenario where the Federal Reserve<\/a> might have to intervene by reinstating the Bank Term Funding Program (BTFP) or similar measures to stabilize the banking sector.<\/p>\n

Related Reading: Bitcoin Set For Weekend Rally Amid New Banking Crisis: Arthur Hayes<\/a><\/div>\n

He parallels the current situation and the March 2023 banking crisis, suggesting<\/a> that similar market turbulence could lead to a brief dip<\/a> in Bitcoin\u2019s value, followed by a significant rally.<\/p>\n

Hayes postulates that such developments could see Bitcoin, often regarded as a digital gold or safe-haven asset, experience a surge in value similar to the 40% increase witnessed during the previous banking crisis.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

According to data shared by renowned crypto analyst Ali, Bitcoin has recently witnessed a significant development in its investment dynamics, marking a notable shift in the crypto market. In a post on X published earlier today, Ali disclosed that Bitcoin is experiencing a substantial accumulation streak, which has not been seen in nearly three years. According to the analyst, this surge in the Accumulation Trend Score indicates the growing confidence among larger entities in the cryptocurrency market. Ali’s shared data further reveals that the Accumulation Trend Score for Bitcoin has consistently hovered near the peak level of 1 over the past four months. This sustained high score signals an active and ongoing accumulation by big investors. #Bitcoin is witnessing one of its most significant accumulation streaks in almost 3 years! Notably, the Accumulation Trend Score has hovered near 1 for the past 4 months, signaling that larger entities are accumulating $BTC. This trend indicates strong confidence in the market! pic.twitter.com\/QcJOEhzBUb \u2014 Ali (@ali_charts) February 1, 2024 A Surge In Large-Scale BTC Holdings Further complimenting this near 3-year accumulation trend streak, Ali’s recent data revealed that the Bitcoin market has welcomed approximately 67 new “whales.” These entities, each holding over 1,000 BTC, represent a 4.50% increase in this category of investors within two weeks. This increase in whale activity coincided with a period where Bitcoin experienced a notable dip, falling below the critical $39,000 threshold. Ali noted: “While some shivered with fear during the recent price correction, Bitcoin whales were accumulating more BTC.” While some shivered with fear during the recent price correction, #Bitcoin whales were accumulating more $BTC! Around 67 new entities now hold 1,000 #BTC or more, marking a 4.50% increase in two weeks. pic.twitter.com\/tje3fhznRR \u2014 Ali (@ali_charts) January 30, 2024 This downturn was primarily attributed to a significant outflow from Grayscale, amounting to over $5 billion since the Bitcoin Spot ETF was approved by the US Securities and Exchange Commission (SEC). As of January 29, 2024, the number of Bitcoins held by Grayscale was 496,573.8166. Additionally, GBTC\u2019s AUM is approximately $21.431 billion. After the spot ETF passed, Grayscale users sold a total of 120,500 BTC, which is equivalent to approximately $5.508 billion.\u2026 \u2014 Wu Blockchain (@WuBlockchain) January 30, 2024 However, as this outflow has cooled off, Bitcoin has shown signs of recovery, trading above the $42,500 mark and registering a 6.1% increase in the past week. Bitcoin Poised For 40% Surge? Shifting the focus to the broader financial landscape, Arthur Hayes, founder of BitMEX, has offered an analysis of current economic conditions and their potential impact on Bitcoin. His commentary is particularly relevant in light of recent challenges faced by New York Community Bancorp (NYCB) and the banking sector. The bank\u2019s significant stock decline, driven by unexpected losses and a substantial increase in loan loss reserves, has raised concerns about the stability and exposure of US regional banks, especially in the real estate sector. Hayes\u2019s remarks point to a possible near-future scenario where the Federal Reserve might have to intervene by reinstating the Bank Term Funding Program (BTFP) or similar measures to stabilize the banking sector. Related Reading: Bitcoin Set For Weekend Rally Amid New Banking Crisis: Arthur Hayes He parallels the current situation and the March 2023 banking crisis, suggesting that similar market turbulence could lead to a brief dip in Bitcoin\u2019s value, followed by a significant rally. Hayes postulates that such developments could see Bitcoin, often regarded as a digital gold or safe-haven asset, experience a surge in value similar to the 40% increase witnessed during the previous banking crisis. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":516386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,678,15232,86439,88014,1119,78790,6664],"class_list":["post-572781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-prediction","tag-bitcoin-whale","tag-bitcoin-whale-accumulation","tag-bitcoin-whale-activity","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\nBitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \u2013 What\u2019s Driving The Surge?<\/title>\n<meta name=\"description\" content=\"According to data shared by renowed crypto analyst Ali, Bitcoin has recently witnessed a significant development in its investment...\" \/>\n<meta name=\"robots\" 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \u2013 What\u2019s Driving The Surge?","url":"http:\/\/wncen.com\/news\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin prediction","bitcoin whale","bitcoin whale accumulation","bitcoin whale activity","btc","btcusdt","crypto"],"dateCreated":"2024-02-02T02:00:37Z","datePublished":"2024-02-02T02:00:37Z","dateModified":"2024-06-11T07:02:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \\u2013 What\\u2019s Driving The Surge?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/DeFi.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin prediction\",\"bitcoin whale\",\"bitcoin whale accumulation\",\"bitcoin whale activity\",\"btc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-02-02T02:00:37Z\",\"datePublished\":\"2024-02-02T02:00:37Z\",\"dateModified\":\"2024-06-11T07:02:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/DeFi.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572781"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=572781"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/516386"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=572781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=572781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=572781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}