RATE Group | Whales and American Buyers Drive Bitcoin Rally
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Whales and American Buyers Drive Bitcoin Rally

01 May Whales and American Buyers Drive Bitcoin Rally

Posted at 17:14h in Bitcoin News by

Bitcoin was up over 20% year-to-date Thursday morning.

Data suggests that the recent price rise is being driven by U.S. investors buying bitcoin on spot and derivatives exchanges. Meanwhile, there are now more “whales” swimming in this global sea than since mid-2019. And Bitcoin custodial startups are reporting an uptick in users.

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It’s suspected that much of this activity is driven by the impending halving event, which for some sober minds, is nothing more than an act of arithmetic. Here’s the story:

Top Shelf

American Buyers
Data indicates American buyers are fueling Bitcoin’s rally. On U.S. exchanges, spot premiums are showing stronger buy-side pressure relative to other markets. Further, exchanges licensed to offer bitcoin futures to American investors are rallying while…

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