After rising to new levels, holders can now breathe a bit easier as Bitcoin enjoys a level of support not seen before, and it’s not just the upswing that’s causing the excitement.
The first glimmers of good news are finally here—evidenced by several upward-trending trading figures. Investors have translated this positivity to the stock market, admittedly not as enthusiastically as for cryptocurrencies, offering a welcome reprieve from the months of gloom in 2023. So, this rally won’t be just a fleeting fancy—it looks set to stick around!
With BTC prices on a dramatic surge, it looks like “Whale” investors have decided they won’t be moving their BTC onto exchanges – instead, they’ve gone over-the-counter with OTC desks, sharply increasing their holdings. So, whales are wisdom-ing up, OTC desks are stocking up, and investors are holding their breath – what an interesting week in crypto!
The Recent Surge In Crypto
Bitcoin is cozy above the $21K mark, while ETH fortifies around the $1,500 territory after a few weeks of dip beneath the $1,200 line.