Rising institutional demand, a spike in the number of whales on the Bitcoin network and massive BTC outflow across exchanges like Coinbase Pro are the three key reasons fueling the current bull run.
Coinbase Pro, one of the largest crypto exchanges, has shifted a large volume of Bitcoin, a total of 30,000 in a single day this week.
A leading crypto analyst, Ali Martinez noted that 16 new whales joined the Bitcoin network over the past week, buying a minimum of $39 million in BTC.
The increasing buying pressure might seem insignificant, but each of these new addresses acquired a minimum of $39,000,000 worth of #Bitcoin.
@AltcoinSherpa, a pseudonymous crypto analyst and trader, believes the current bullish market structure in Bitcoin implies no significant change in long-term price targets.
I think alts are going to have 1 more leg up; move up to 55k and then we’ll see after.
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Polkadot price shows an affinity to move higher but the bulls need to band together as many hurdles plague its path.
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