Bitcoin and Ethereum whales are taking advantage of the market downturn by accumulating more of these cryptocurrencies. Large Bitcoin holders have seen a net inflow of 1,900 BTC, while Ethereum whales have recorded a net inflow of 61,000 ETH. The influx of whale activity could potentially trigger FOMO among retail investors and push prices higher again. Additionally, over $200 million in USDT entered centralized exchanges, indicating bullish momentum. The market-wide cooldown may be attributed to upcoming macro events such as the U.S. Consumer Price Index and the FOMC meeting. If these events show positive signs, the crypto market could witness upward momentum.
Weekly Analysis Of The Cryptocurrency Market: Altcoins Surpass Previous Highs As Bulls Buy Every Dip