Bitcoin reached a new local high of nearly $69,000 yesterday, solidifying the uptrend that began in September. Analysts and investors are optimistic about significant gains in the coming weeks. Santiment data reveals a substantial increase in Bitcoin whales—large holders of BTC—around the time the price bottomed out at around $59,000 on October 10th. This increase is often seen as a sign of “smart money” positioning for a major move, suggesting that large investors are accumulating BTC during a low to prepare for something big in the coming weeks. As excitement builds, market participants watch closely for further signals that Bitcoin could be headed for new all-time highs.
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