Summary
- New reports show that US whales are accumulating Bitcoin.
- BTC is now trading at $62,600.
According to the latest reports coming from CryptoQuant who is citing the popular trader Crypto Dan, US whales are accumulating Bitcoin.
The notes reveal that looking at the Coinbase premium gap, the movement of US whales which had a selling trend, has recently turned into buy.
So far, it is reportedly a rebound that slightly compensates for the previous decline. However, the fact that Bitcoin rebounded during the weekend means that additional funds can be expected to flow into BTC ETFs during this week.
This translates into the opportunity for a further rebound. Crypto Dan wrote that from a psychological perspective, it seems to be a good period for BTC to rebound as the market participants have already experienced fear and frustration due to a considerable period of adjustment.
Bitcoin Near $63K Amidst Intense Market Volatility
At the moment of writing this article, Bitcoin is trading at $62,600. The coin saw a significant rebound in price today, July 15 and BTC is now up by over 4% for the day.
The general crypto market saw intense volatility during the past weekend due to political events.
On Saturday, July 13, a gunman attempted to assassinate former President Donald Trump but failed.
Trump was shot in the ear during the attack at a rally in Pennsylvania, and now, the former president is doing well, according to the latest reports from Reuters press agency.
Trump-related tokens recorded volatility following the event with digital assets such as MAGA (TRUMP) and TRUMP (TRUMP) seeing significant price surges on July 14.
It is also worth noting that the floor price of the original Trump Digital Trading Cards has reached a new ATH after the event as well.
The NFT collectibles on the Ethereum scaling solution Polygon rose to as much as 933 MATIC, according to data collected from various NFT marketplaces. New reports from Magic Eden revealed that the floor price has cooled down hovering around 765 MATIC now.
