On-chain data provider Santiment is one of the most cited sources of information in the crypto industry. Now the researchers reveal: in the midst of the apparently uncertain situation in the crypto markets, Bitcoin whales are massively buying the number 1 cryptocurrency-despite or precisely because of the recent price reset.

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Bull-Run reloaded?

Slowly, more optimism is showing on the crypto markets again. Bitcoin has managed to recover from the local low at just over $ 30,000 to currently (time of this article) around $ 38,200. BTC consequently demonstrates immense strength-and as on-chain data shows, wealthy Bitcoin investors believe in that strength.

So BTC whales with more than 1,000 BTC in their wallets are still massively accumulating Bitcoin, as Santiment’s crypto researchers explain in a recent tweet. This is a “strong sign of confidence for the bulls”, so Santiment. They write:

“🐳#Bitcoin whales do not slow down their accumulation of $BTC, and the upward trend of tokens held by those addresses holding 1,000+ $BTC continues. This is a strong sign of confidence for the bulls as the major players fill their pockets. 💰“

Santiment’s Bitcoin analysis coincides with the statements of other industry observers. Bloomberg’s crypto expert Mike McGlone, for example, is also optimistic. He assumes that Bitcoin will be more likely to exceed $ 40,000 in the short term than to slide down to $ 20,000.

Did Bitcoin thus circumnavigate the dreaded Death Cross that suggests a crash to as much as $20k? Trader @Rektcapital commented: Due to Bitcoin’s recent 20% increase, the coin has actually managed to move the potential death cross back by a whole week. If there are further price increases, the Death Cross moves even further into the distance. And once BTC manages to recover above $55K-$60K, the cross could have been completely avoided.

MicroStrategy buys the price reset-again

The enterprise software company MicroStrategy also acts unceasingly bullish. She originally wanted to sell corporate bonds for $400 million to use the proceeds to buy Bitcoin. Yesterday, the company raised the total to $500 million.

Allegedly, according to Bloomberg, MicroStrategy has received $ 1.6 billion in bond orders from institutional investors looking to buy the company’s debt for an annual return of 6.125%.

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