Bitcoin whales, or large BTC holders, have begun accumulating more of the cryptocurrency, according to a report by CryptoQuant. Data shows a significant increase in the monthly growth rate of BTC holdings among these investors. This surge in accumulation is attributed to bullish developments in the early stages of Donald Trump's administration, including the establishment of a Working Group on Digital Asset Markets. Selling pressure for BTC has also declined, with BTC profit-taking dropping by 93% since December. However, overall Bitcoin spot demand has weakened over the past month, raising concerns about a potential bullish rally. Nonetheless, crypto analysts remain optimistic about the possibility of another major price rally, with some predicting BTC could reach as high as $249,000 during Trump's presidency.



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