Protagonists and analysts across the crypto market acknowledge that HODLers, especially long-term holders likely be the recipients of prospective Bitcoin price moves ahead. On Tuesday, increased bets on buying the dip have gradually uplifted the wider crypto space. Notably, the top cryptocurrencies of the space quickly restored their momentum. However, as the majority of the altcoins forfeited their gains, cash-flow tunes in for BTC price action.
This cycle may end up being known as…
“The one with panic-inducing weekly pennants and their 50W MA adjacent retests.” pic.twitter.com/gTtR6jpFWO— TechDev (@TechDev_52) December 6, 2021
On the other hand, the crypto analyst The Wold Of All Streets shared his view on the current market scenario. He is optimistic about the BTC bull run if the price manages to break above $53k. In case of a bearish move, the price would heavily plunge to $28k if it fails to gain strength around $42k.
🐳 #Bitcoin has recovered back to $50.1k Monday, and whale traders played the dip to perfection. Beginning during the dump to $43.5k, addresses holding 100 to 10k $BTC have accumulated 67k more $BTC after dumping the same amount before the price drop. https://t.co/TcTSKBy2v7 pic.twitter.com/JxZL7nGVwR— Santiment (@santimentfeed) December 6, 2021
A crypto metric platform Santiment confirms the huge whale accumulation in a recent price drop. While Bitcoin price plunged to its multi-month low of $43.5k, retail whales holding between 10k to 100k BTC accumulated a record high of 67k more Bitcoin in just 3 days after the market crash. However, the investment move strives to prove the primary coin as a less risky asset. On the other hand, these whales would quickly liquidate in terms of any uncertainties, hence it is mandatory to do thorough research before investing.
Collectively, Bitcoin price is hopeful of an incredible rally ahead. Analyst Dylan Leclair is likely to be pretty much convinced with the bull market ahead. The chart shown by him hints at a probable steep uptrend in the next couple of weeks. As December holds a high probability of massive leg up, the flagship asset would claim a new ATH. However, short-term holders and newbies are advised to be cautious of uncertainties such as market crashes or whale manipulations.