While the price of Bitcoin (BTC) made a high of just under $ 11,850 on August 24, 2020, the correction is back today. While the $ 12,000 mark remains a major obstacle, data like Bitcoin Whales shows BTC accumulating more and faster than ever. The current situation around the Bitcoin course brings back memories from the time below USD 10,000. Today’s hurdle is USD 12,000 and even above that, the path to the all-time high from December 2017 will not be easier. At such times, traders plunge into the thriving altcoin markets. Bitcoin whales, however, are accumulating more and faster than ever. This is confirmed by the latest data from Glassnode.
BTC / USD is trading sideways below USD 12,000
From a technical point of view, the price trend of BTC over the last few weeks and months looks healthy, strong and, above all, bullish. The current price ($ 11,585 at the time of this article) seems to be stagnating. We are observing a sideways price between ~ 11,400 and ~ 11,900 USD. The biggest event of the last 20 days was the unsuccessful attempt to break out to just under 12,500 USD on August 17, 2020. Yesterday, the BTC / USD rate tested the price mark at 11,850 USD and has since dipped into the correction.