Bitcoin (BTC) continues its trend of high volatility, attracting the attention of seasoned investors. The price of the leading crypto asset has consolidated its gains over the past few weeks, hovering around the $68,000 mark after hitting an all-time high above $73,000 in March.

Meanwhile, crypto analyst Ali Martinez said that amid the ongoing pullback, major Bitcoin investors (whales) embarked on a buying spree, raking in 20,000 BTC in just 24 hours. .

Cryptocurrency analytics firm IntoTheBlock revealed that addresses holding between 1,000 and 10,000 BTC were the main places of accumulation during Bitcoin's recent rally to $70,000.

On May 23, the company noted that these addresses added 20,000 BTC ($1.4 billion) to their balances in the past 7 days, further cementing Bitcoin's position as a preferred asset of institutional and large-scale investors.

Glassnode, a leading on-chain data provider, has highlighted a notable decline in Bitcoin long-term supply (LTH) that led to the cryptocurrency's all-time high (ATH) of over $73,000 in March 2024.

Signals a change in market sentiment towards a bullish trend.

Adding to the bullish sentiment, crypto analyst “Gaah” from CryptoQuant highlighted the Puell Multiple, a metric used to evaluate Bitcoin miner profitability following halving events.

The recent drop in the Puell Multiple points to a possible market correction in the face of increased scarcity, potentially paving the way for a future bull run for Bitcoin. #EarnFreeCrypto2024 #binance #bitcoin #btc $BTC