Bitcoin Whales and Long-Term Holders Accumulate as Price Nears $40K
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Bitcoin whales' balance reaches new 2023 high of 7.67M BTC worth $275B this week according to analytics firm IntoTheBlock.
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Long-term Bitcoin holders' balances also hit all-time highs this week, seen as bullish sign by IntoTheBlock.
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Bitcoin price neared $38K Thursday before retreating, now trading marginally up around $36.5K.
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Futures market data suggests US entities driving Bitcoin's climb.
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Bullish options bets reaching $40K-$45K by end of December, so $40K could be key test point.