Over 27,700 BTC ($1.72 Billion) Moves into Accumulation Addresses Amidst Bitcoin’s Dip Below $63,000

cryptonews.com:

Amidst Bitcoin’s recent dip below $63,000, an April 18 report by technical analyst Ali Martinez revealed a surge in BTC accumulation, signifying resilience among Bitcoin holders.

Ali Martinez highlighted this trend on X, showcasing a chart depicting the movement of over 27,700 BTC (approximately $1.72 billion) into accumulation addresses.

This influx amidst Bitcoin’s price dip represents a new all-time high, exceeding the previous record of 25,100 BTC on March 22, 2024, and signifying anticipation of future gains among investors.

Over 27,700 $BTC, worth around $1.72 billion, have flown into accumulation addresses as #Bitcoin dropped below $63,000! pic.twitter.com/ksrk0qNp41

— Ali (@ali_charts) April 18, 2024

This trend is further supported by data from CryptoQuant, which indicates a record-high inflow of Bitcoin into accumulation addresses. Surpassing previous highs, this data indicates a notable shift towards long-term holding strategies among investors.

Defined by specific criteria, including balances exceeding 10 BTC, no outgoing transactions, and exclusion of exchange or miner-associated accounts, these BTC accumulation addresses suggest a strategic pivot towards long-term holding amidst market fluctuations.

The surge in accumulation signals enduring confidence in Bitcoin’s long-term potential, positioning it for a potential re-accumulation phase in the coming months after halving.

Notably, crypto analyst ‘Rekt Capital’ proposes that Bitcoin’s current correction phase may soon give way to a re-accumulation period post-halving. Historical patterns suggest that BTC accumulation often leads to a period of price consolidation following halving events.

#BTC

3 Phases of The Bitcoin Halving

1. Final Pre-Halving Retrace

Bitcoin has