Derived from CryptoPotato, Bitcoin's price has rebounded from a recent four-month low, with analysts predicting a potential surge to $90,000 if it maintains support above $84,000. This recovery is attributed to significant accumulation by large BTC holders, known as whales, who have added over 20,000 BTC, valued at approximately $1.7 billion, to their wallets in recent days. This buying spree follows a period of price decline influenced by geopolitical factors, including tariffs imposed by former President Trump. Additionally, CryptoQuant's Maartunn highlights a 13% increase in Bitcoin Open Interest, now nearing $28 billion, suggesting that leveraged positions may also be contributing to the price rally. However, this leverage could pose risks of liquidation if prices fall sharply.
Bitcoin Price Eyes $90,000 Amid Whale Accumulation and Leverage Concerns
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