Bitcoin is attempting a slight recovery, but closing above the $60,000 market will be the first step to achieve before BTC and altcoins can bounce from their recent lows.
The S&P 500 Index (SPX) rose marginally by 0.24% last week, but Bitcoin (BTC) succumbed to selling pressure and fell nearly 11%. Will Bitcoin resume its uptrend, or has it already topped out? That is the big question worrying investors.
However, the whales do not seem to be perturbed by the sideways price action and have been on a buying spree. According to a post on X by market intelligence platform Santiment, Bitcoin whale wallets holding 100 Bitcoin or more surged by 283 wallets to 16,129 wallets, the highest in 17 months.
Daily cryptocurrency market performance. Source: Coin360
