The Bitcoin price is showing a healthy bounce back gaining the lost ground to $100K levels. BTC’s move in the upward direction remains firm as Tether continues to print more USDT flooding the market with enough liquidity. Besides, BTC whale accumulation and on-chain indicators suggest that we haven’t reached the top yet.
Bitcoin Price Rally Can Continue to New All-Time High
In the last 24 hours, the BTC price has bounced back once again from $96,000 support levels. As of press time, the BTC price was trading 2.17% up at $99,376 with a market cap of $1.97 trillion. However, BTC’s daily trading volumes show a drop of 33% to $84 billion.
On-chain indicators suggest that heavy Bitcoin whale accumulation has continued during the recent Bitcoin price drop. In the past 24 hours, following the dip to $96,000, Bitcoin whales acquired 20,000 BTC worth $2 billion, reported crypto analyst Ali Martinez.
Source: Ali Charts
Martinez also highlighted that local Bitcoin price tops often coincide
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