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Bitcoin (BTC) Will Reach $25,000, But Another Thing Is Happening First, Mike Alfred Says

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Mon, 6/02/2023 - 12:03
Bitcoin (BTC) Will Reach $25,000, But Another Thing Is Happening First, Mike Alfred Says
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Prominent crypto investor Mike Alfred has published a tweet, sharing his optimistic take on the Bitcoin price. He believes that after the current shaking of weak hands, the flagship cryptocurrency is likely to reclaim the $25,000 level.

However, currently, BTC is "still shaking out the tourists," per Alfred. Earlier this month, he opined that the leading crypto would inevitably hit a $150,000 high. However, to do that, BTC first has to surpass the $23,133 price mark and fix above it.

Bitcoin whales become active again

In a recently published tweet, Santiment data aggregating agency mentioned that its team had detected the return of roughly 620,000 small Bitcoin whales to the BTC network. This happened after the FOMO for cryptocurrencies (a crypto acronym standing for "fear of missing out") again started on Jan. 13.

Back on that day, the Bitcoin price recaptured the $20,000 level. The aforementioned wallets hold approximately 0.1 Bitcoin or, even less, each. They had emerged slowly last year, however, now, Santiment says, traders feel optimism, so these wallets have become active again.

This wallet grabs $313.1 million in BTC

As reported by U.Today over the weekend, an astounding 13,369 Bitcoin were bought in a single transaction by a crypto whale, who paid a whopping $313.1 million for that BTC lump.

This was the biggest single transfer over the previous four weeks, according to the data published by Santiment. The BTC was transferred to a brand new wallet, so the market may have seen a birth of a new Bitcoin whale.

Related
Bitcoin (BTC) Dips Lower on Extremely Strong Jobs Report

Bitcoin market stance

Since Feb. 1, Bitcoin has been declining, losing 5.72% overall. As the month started, BTC surged to the $24,197 zone. However, the jobs report released after that made the price begin to decline.

The U.S. Bureau of Labor Statistics reported that, in January, 517,000 new jobs were created, which was more than twice what analysts had predicted. Currently, the major crypto is changing hands at the $22,787 level on the Bitstamp exchange.

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