Bitcoin, the largest cryptocurrency, seemingly consolidating around the $47k mark according to CoinMarketCap. It traded at the $46.8k mark at press time after recording a 0.5% correction in 24 hours. So BTC’s price might be consolidating or even reaching a short-term top. But that doesn’t stop holders to continue their march.
Gearing up
Crypto investors appear to have resumed Bitcoin accumulation, a sign they expect the price to rise. According to Glassnode, the outflow of Bitcoin from exchanges in the past 30 days is nearly 100,000. The monthly flow of Bitcoin from such a large-scale exchange occurred several times in history, but most occurred after 12 March, 2020.