{"id":21711,"date":"2023-06-20T20:50:38","date_gmt":"2023-06-20T20:50:38","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-tests-28k-amid-fresh-whale-activity\/"},"modified":"2023-06-20T20:50:38","modified_gmt":"2023-06-20T20:50:38","slug":"bitcoin-price-tests-28k-amid-fresh-whale-activity","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-tests-28k-amid-fresh-whale-activity\/","title":{"rendered":"Bitcoin price tests $28k amid fresh whale activity"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin rose to $28,150, its highest level in three weeks.<\/li>\n<li dir=\"ltr\">The upside comes as sentiment flipped positive on ETF news amid further whale accumulation.<\/li>\n<li dir=\"ltr\">Analyst say BTC could test new year-to-date highs but bulls have to hold a key support area.<\/li>\n<\/ul>\n<p dir=\"ltr\">The price of <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin (BTC)<\/a> broke above the $28k level for the first time in three weeks, with BTC trading to highs of $28,150 on Tuesday afternoon. The gains continued the cryptocurrency\u2019s resurgence after it recently fell below $25k.<\/p>\n<p dir=\"ltr\">Today\u2019s upside saw BTC\/USD jump more than 5% in 24 hours, the action resulting in the market\u2019s largest short squeeze so far in June. Bitcoin\u2019s dominance index also rose to above 50%, the first time it hit the level in over two years.<\/p>\n<h2 dir=\"ltr\">Bitcoin gains as sentiment flips amid whale accumulation<\/h2>\n<p dir=\"ltr\">As the price moved to the key resistance level, crypto analytics platform Santiment pointed to the increasing trading volume and token circulation.<\/p>\n<p dir=\"ltr\">\u201c<em>Bitcoin has made a huge run in the past 4 hours, rising from $26.7k to $28.0k (+4.9%) in this brief time. The 3-week $BTC price high is being powered by rising trading volume and token circulation, both factors that often imply continued growth<\/em>,\u201d the market intelligence platform tweeted.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 800px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/05\/20\/1687293117308-7ece354d-6b71-43d8-b634-dc6ffcd8dd48.jpg\" style=\"width: 800px\" class=\"fr-fic fr-dib\" width=\"800\" height=\"389\"\/><span class=\"fr-inner\">Bitcoin price rose as dominance hit 50%. Source: <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1671224411494715392\/photo\/1\" rel=\"noopener noreferrer\" target=\"_blank\">Santiment<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">Earlier, the company had<a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1670967185446158336\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>shared<\/u><\/a> data showing whales have exploited the recent downside to add to their holdings. While the <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-holders-with-100-btc-or-less-scooped-254-of-mined-supply-last-month-glassnode\/\">shrimps to fish<\/a> cohorts have been busy adding to their total holdings over the past month, whales with 1,000 to 10,000 BTC have added 131,600 BTC worth over $3.5 billion since the start of April.<\/p>\n<\/div>\n<h2 dir=\"ltr\">Bitcoin price outlook \u2013 analyst share predictions<\/h2>\n<p dir=\"ltr\">Bitcoin\u2019s latest gains also come after headline news around the filing of a <a href=\"https:\/\/coinjournal.net\/news\/should-exchanges-fear-a-blackrock-etf\/\">spot Bitcoin ETF by BlackRock<\/a> and reports of a similar move by Fidelity Investments. It appears bulls can now target the $30k level, although the intraday highs zone could prove to be a key hurdle.<\/p>\n<p dir=\"ltr\">While Bitcoin was trading around $27,950 at 4:00 pm ET on Tuesday, the gains bulls notched earlier had the world\u2019s largest coin by market cap at levels experts have said need to break for further upside momentum.<\/p>\n<p dir=\"ltr\">\u201c<em>The burden of proof is increasing upon the bears in Bitcoin $BTC<\/em>,\u201d veteran trader Peter Brandt<a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1671211853895041038\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>noted<\/u><\/a> on Twitter. \u201c<em>The retesting of the underlying H&amp;S has been well supported and a possible falling wedge is being completed on daily line chart<\/em>.\u201d<\/p>\n<p dir=\"ltr\">Here\u2019s the chart the veteran trader shared.<\/p>\n<p dir=\"ltr\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/05\/20\/1687293342367-e438f6d5-86d5-4107-b6d2-93f759233fcf.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"510\"\/><\/p>\n<p dir=\"ltr\">Meanwhile, crypto analyst Ali has highlighted that Bitcoin\u2019s upsurge has bulls at \u201cstable support\u201d.<\/p>\n<p>\u201c<em>As long as #BTC holds above the $26,160 \u2013 $26,970 range, it has a good chance of reaching new yearly highs<\/em>,\u201d he<a href=\"https:\/\/twitter.com\/ali_charts\/status\/1671218560163512324\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>predicted<\/u><\/a>. The analyst notes that about 2.26 million addresses purchased more than 1.14 million BTC at the above range.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/btc-spikes-as-bulls-break-28k-analysts-share-predictions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin rose to $28,150, its highest level in three weeks. The upside comes as sentiment flipped positive on ETF news amid further whale accumulation. Analyst say BTC could test new year-to-date highs but bulls have to hold a key support area. The price [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21711"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21711"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21711\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21712"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}