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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.