Is Bitcoin ready to rocket? BTC hit new multi-week highs above $45,000 before consolidation on Feb. 8 as the comeback continues.
As Cointelegraph reported, Bitcoin's latest moves represent a breakout of a downtrend in place since November's all-time highs.from its relative strength index , BTC price action is now closing in on its yearly opening price just above $46,000.
Analyzing the fuel behind the past days' progress, on-chain analytics resource Material Indicators noted that large-volume traders were accumulating, while whales, who had"Driver of the rally were orders of size $10k - $100k , which made up almost all of the total CVD, and evidently TWAP'ed since the bottom was in. Whales remained either flat or sold into the rips," it
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