Bitcoin has been experiencing sideways price action for the past two weeks, but has seen a significant amount of accumulation valued at $23 billion. The largest accumulation zone is around $99,559, with 125,000 BTC bought just below $100,000. Another significant accumulation zone is between $96,000 and $98,000, with 120,000 BTC added in the last two weeks. These accumulation zones have solidified as key support zones for Bitcoin, helping to keep the price above $96,000. Despite the accumulation, spikes in realized profits show that traders are still booking profits during growth periods, highlighting the market's volatility. Bitcoin's price is currently around $96,000, and if it can hold this range, it may attempt another push towards $100,000. However, if it fails to surpass this level, it may remain stuck in a sideways range between $96,000 and $100,000. If Bitcoin can reclaim and hold above $100,000, it could resume its bullish trend and move towards its all-time highs. The ongoing accumulation at these levels indicates strong investor confidence and potential future price growth.
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