BlockBeats News, March 27th. Coindesk analyst Omkar Godbole stated that despite macroeconomic uncertainty and technical indicators casting doubt on Bitcoin's (BTC) recent rally, the buying behavior of some large investors indicates a more optimistic market outlook.
According to data tracked by blockchain analytics company Glassnode, since March 11th, Bitcoin "whales" have accumulated over 129,000 BTC, totaling $11.2 billion at a market price of $87,500. Glassnode notes that this is the most significant Bitcoin accumulation rate since August 2024, suggesting that the market's largest participants are growing more confident in this cryptocurrency.
Bitcoin has partially recovered since dropping below $78,000 two weeks ago. This rebound has been primarily driven by dovish remarks from the Federal Reserve and market optimism regarding the mild expectations for Trump's tariffs set to be enacted on April 2nd.
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