Bitcoin Breaks 200-Day Moving Average, Whales Push Crypto Rally

• The cryptocurrency market continues to show signs of improvement, with Bitcoin breaking above its 200-day moving average.
• The U.S. Consumer Price Index (CPI) report has given Bitcoin and other cryptocurrencies leverage, as macroeconomic factors such as inflation and deflation affect their prices.
• Analytic platform Santiment has revealed that the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly, possibly pushing the Bitcoin rally.

The cryptocurrency market has been showing signs of improvement lately, with Bitcoin, the number one cryptocurrency, breaking above its 200-day moving average. This has been a major milestone for the crypto markets, as the 200-day moving average is an important indicator of a long-term trend. In addition, the market has generally recovered from its crypto winter, as crypto enthusiasts believe the worst is over for the crypto industry.

The U.S. Consumer Price Index (CPI) report has had a major impact on Bitcoin and other cryptocurrencies. The CPI measures the monthly changes in prices paid by United State consumers, and is an important metric used to measure economic inflation and deflation. Events over time have shown that macroeconomic factors such as inflation and deflation have a major effect on Bitcoin and other cryptocurrencies. So when the CPI is high, it usually leads to a spike in interest rates that can cause a decrease in crypto prices. However, the recent CPI report has given Bitcoin and other cryptocurrencies leverage, as it showed a decrease in inflation which could lead to a rally in the crypto markets.

Analytic platform Santiment has revealed that the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly. This could be pushing the Bitcoin rally, as the whales are likely investing heavily in the crypto markets. Santiment revealed that more than 416 addresses hold between 100-1000 BTC, which is an increase of 3.04% in the past eight weeks. This shows that the whales are having a major influence in the crypto markets, and their investments could be what is driving the Bitcoin rally.

Overall, the crypto markets are showing signs of improvement and the recent CPI report has given cryptocurrencies leverage. In addition, the whales are likely pushing the Bitcoin rally, as the number of Bitcoin addresses holding between 100-1000 BTC is increasing rapidly. This could be an indication of a strong recovery for the crypto markets and could lead to sustained growth in the future.

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