Despite the current bearish market sentiment surrounding Bitcoin (BTC), the cryptocurrency appears poised for a potential upswing. On September 17, 2024, the crypto analytic firm CryptoQuant revealed on X (formerly Twitter) that Bitcoin whales and Binance traders are making substantial purchases.
These new entrants into the Bitcoin market are seizing the opportunity to buy amid current market conditions. Meanwhile, long-term holders of Bitcoin are choosing to stay put, indicating confidence in the cryptocurrency’s future performance.
The trend implies that the sentiment may shift from bearish to bullish, driven by the strategic actions of influential market participants like whales and active traders.
