CandleFocus Bitcoin Targets $100,000 on Christmas Day Spurred by Growing Whale Accumulation
2024-12-25
Author: Content Editor
Bitcoin aims to reach a six-figure price mark of $100,000 during Christmas as dip-buying whales have contributed to its recent rebound. Data from market intelligence platform Santiment indicates that whales accumulating between 10 and 1,000 bitcoins have been driving the price resurgence. The increasing adoption of Bitcoin, including inflows from spot exchange-traded funds (ETFs) and corporate companies buying it as a reserve asset, has contributed to the growing number of whale wallets. Analysts believe that the crypto market will continue to see more adoption as institutions are attracted to Bitcoin. Currently, Bitcoin is trading at $98,001 with a market cap of $1.94 trillion.
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