{"id":9081,"date":"2025-01-22T15:30:22","date_gmt":"2025-01-22T15:30:22","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9081"},"modified":"2025-01-22T15:30:22","modified_gmt":"2025-01-22T15:30:22","slug":"2-key-indicators-suggest-bitcoins-price-could-soar-to-new-highs-soon","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9081","title":{"rendered":"2 Key Indicators Suggest Bitcoin\u2019s Price Could Soar to New Highs Soon"},"content":{"rendered":"
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Now that the dust from Trump\u2019s inauguration has settled and the market is anticipating the first big crypto move by the new US president, on-chain data reveals that BTC could be poised for another breakout rally soon.<\/p>\n

The two major factors that could propel such a price surge are the growing whale activity, as well as the robust network.<\/p>\n

BTC Whales Keep Buying<\/h2>\n

It has been a wild few months in the cryptocurrency space. It all started with the US elections when the self-proclaimed crypto president, Donald Trump, won a decisive victory against the Democrat rival. BTC and the rest of the market shot up immediately.<\/p>\n

Despite some shockwaves and substantial turbulence on the way up, bitcoin managed to break through several barriers and ultimately shot up to over $100,000 for the first time ever in December. More volatility ensued in the following weeks, including a price dump<\/a> to under $90,000 last Monday, but ultimately, the asset\u2019s bull run endured, and it recorded<\/a> a new all-time high on inauguration day of over $109,000.<\/p>\n

Although Trump failed to mention crypto during his speech, which was followed by an expected correction, BTC\u2019s price has managed to remain within six-digit territory and is now a few grand away from charting a fresh peak. Moreover, the positive developments on US soil and perhaps the promise of a more favorable regulatory environment have pushed whales to return with massive price purchases<\/a>.<\/p>\n

Data from Santiment, shared by Ali Martinez, shows that such large market participants had accumulated more than 22,000 BTC (valued at over $2.2 billion) within a span of just 72 hours. Such significant purchases dry up the available supply and reduce the immediate selling pressure, which could potentially lead to fresh price rallies.<\/p>\n

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Whales have bought over 22,000 #Bitcoin<\/a> $BTC<\/a> in the last 72 hours, worth more than $2.24 billion! pic.twitter.com\/bl87JcROKU<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 21, 2025<\/a><\/p>\n<\/blockquote>\n