Bitcoin’s latest rally driven by ‘huge accumulation’
Research shows that investors are buying Bitcoin at a high rate amid price corrections and long-term holders are becoming less likely to sell.
Track crypto price watch updates, sharp market moves, key levels, and fast reactions to breaking developments across digital assets.
The move occurred amid a major dip in Bitcoin that took its price to a weekly low of $64,500 per BTC before bouncing above the key $65,000 support level.
The flash crash resulted in $319.43 million in liquidations over the past 24 hours — with longs making up the vast majority at $252.42 million.
With major financial institutions yet to fully embrace Bitcoin, Wood anticipates further upward momentum in its value.
The move is part of the Foundation's efforts to be more transparent about its biometric data collection process.
Bitcoin had only slightly recovered above the $65,000 mark as of press time, with downward pressure remaining in the market.
The central bank also reaffirmed its intention to cut rates during 2024, driving the odds of a June cut to 70%.