After the CPI data from the USA yesterday, Bitcoin went up to 31,000 dollars. However, BTC, which could not maintain this rise, fell to $ 30,200.
While BTC was at $ 30,600 at the time of writing, a share came from Santiment that would make investors happy.
Stating that sharks and whales watch the price range between $ 30,000 and $ 31,000 in Bitcoin, like other investors, Santiment said that whales and sharks accumulate from USDP and DAI stablecoins.
Pointing out that DAI and USDP addresses worth between $100,000 and $10 million have increased significantly since June 27, Santiment noted that sharks and whales have accounted for 2% of DAI's total supply since June 27, and since July 2 said it has accumulated about 11% of the USDP supply.
Santiment attributes this accumulation to a potential rally, saying that “there is the possibility of a bull run in the near future, as investors often turn to stablecoins.”
“Sharks and whales watch the $30,000 to $31,000 price range in Bitcoin, just like other investors.
Also, sharks and whales seem to be accumulating USDP and DAI stablecoins pretty quickly.
This stablecoin purchase also means large crypto purchases and increases the likelihood of future price increases.”
🐳🦈 Sharks and whales are watching the $30k to $31k #Bitcoin price ranging, just like the rest of traders. And it appears that they are accumulating #stablecoins like $USDP & $DAI quite rapidly, which increases the probability of future big #crypto buys. https://t.co/IsW0xJFsd9 pic.twitter.com/wkrr0bDQGL
— Santiment (@santimentfeed) July 12, 2023
*Not investment advice.