Bitcoin Attempts Recovery from Dip.
The Bitcoin price is attempting a foothold near the 38K mark on Monday, hinting at higher inflation ahead.
Charlie Bilello, founder and CEO of Compound Capital Advisors, tweeted that the Fed's balance sheet has hit another record high at $8.93 trillion, more than doubling over the past two years as the Fed continues bonds buying. U.S. inflation also hit a 40-year high in the present month.
On-chain analytics firm Glassnode reports most Bitcoin wallet cohorts are now in net accumulation, with smaller holders being the most aggressive.
Shortly after whales' actions, retail investors seem to be scooping up Bitcoin tokens at a discount amid the present market volatility concerning short-term price action for cryptocurrencies.
On-chain analytics, firm Santiment earlier reported massive Bitcoin accumulation for whales when Bitcoin marked lows at $34,322, noting the largest amount of transactions larger than $100,000 and $1 million since Jan. 24.
Charlie Bilello, founder and CEO of Compound Capital Advisors, tweeted that the Fed's balance sheet has hit another record high at $8.93 trillion, more than doubling over the past two years as the Fed continues bonds buying. U.S. inflation also hit a 40-year high in the present month.
On-chain analytics firm Glassnode reports most Bitcoin wallet cohorts are now in net accumulation, with smaller holders being the most aggressive.
Shortly after whales' actions, retail investors seem to be scooping up Bitcoin tokens at a discount amid the present market volatility concerning short-term price action for cryptocurrencies.
On-chain analytics, firm Santiment earlier reported massive Bitcoin accumulation for whales when Bitcoin marked lows at $34,322, noting the largest amount of transactions larger than $100,000 and $1 million since Jan. 24.
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