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Bitcoin rebounds to $27k amid shift from accumulation to distribution


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Bitcoin is back at $27,000 after posting a near 2% rally in 24 hours. Trading at $27,400, BTC is up 1.7% in the 24 hours to press time, with volume up 12%.

Bitcoin’s volatility levels are rather low right now as the Bollinger Bands are converging to show less volatility. The RSI is also moving above its average line, which indicates a potential uptrend. The MACD indicator is also moving in the positive territory.

Whales shift bitcoin strategy

Significant changes were observed in a recent assessment of the degree of Bitcoin accumulation trend by Cohort, which indicates a shift in the behavior of different groups of cryptocurrency market participants.

Notably, the largest bitcoin holders, known as whales (with holdings exceeding 10,000 BTC), have moved from a phase of heavy accumulation to a more balanced state characterized by an even inflow and outflow of tokens.

While whales are showing a more careful approach to their bitcoin holdings, the situation is very different for other major equity holders in the market.

The analysis reveals that these groups are actively distributing their coins, which indicates a broader trend of selling rather than accumulation. This transition between whales has implications for overall market sentiment and potential price dynamics.

The shift from heavy accumulations to balanced flows indicates a more cautious approach by the largest holders of bitcoin. It may indicate that these whales have reached a level of satisfaction with their current holdings.

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