BTC Whales Buy Aggressively as 2013-Style Accumulation Returns

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Several chartists warn that Bitcoin could decline toward $30,000 in February as the price action mirrors previous four-year cycles.

Bitcoin’s 30% drawdown from all-time highs did little to deter large investors, who continued to increase their holdings throughout January.

Large holders are buying the dip, signaling long-term confidence.

Chartists warn that a bull trap could still drive BTC sharply lower.

Bitcoin sharks are buying the dips
As of Wednesday, so-called “sharks,” which represent entities holding 100-1,000 BTC, were accumulating Bitcoin at their fastest pace since 2013, data from Glassnode showed.

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