A closely followed crypto analyst claims that Bitcoin (BTC) whales have scooped up billions of dollars from the flagship digital asset in just three weeks.
In a new thread, crypto strategist Ali Martinez tell his 44,700 followers on social media platform
“Bitcoin whales have gone on a buying spree, acquiring 140,000 BTC over the past three weeks, worth $6.16 billion!”
Increase in crypto whales’ BTC holdings comes as Martinez Remarks that Bitcoin Super Trend, an indicator that helps traders identify market trends, sent a bullish signal for the king of crypto.
According to Martinez, the Super Trend indicator is a historically accurate marker for a Bitcoin bull run.
“The Super Trend just issued a buy signal on the monthly Bitcoin chart, a tool known for its accuracy in predicting BTC bull markets. The four buy signals issued since BTC’s inception have all been validated, leading to gains of 169,172%, 9,900%, 3,680%, and 828%, respectively.
Bitcoin is trading at $48,157 at the time of writing, a slight increase over the past 24 hours.
Concluding his analysis with memecoin Pepe (PEPE), Martinez said that its three-day chart appears to be forming a bullish inverse head and shoulders pattern.
The analyst also says that the Tom Demark (TD) Sequential Indicator – used to identify trend direction and potential price reversals – is also giving a bullish signal, suggesting a rally is in sight for the crypto asset even.
“PEPE is currently showing signs of formation of the right shoulder of [an inverse] head and shoulders pattern on its three-day chart. Additionally, the TD Sequential indicator issued a buy signal during this period, suggesting an anticipated bullish impulse for PEPE.
PEPE is trading at $0.000001 at the time of writing.
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