Bitcoin (BTC) whale clusters show that the $23,409 level has become an area of focus for large traders. This indicates that the ongoing bull run is buoyed by whales continuing to accumulate above $23,000.
Whale clusters form when whales purchase Bitcoin and do not move their BTC holdings from the price of purchase. Clusters are useful in determining Bitcoin’s support levels, especially when the market moves rapidly.
According to analysts at Whalemap, a data analytics firm that tracks Bitcoin whale activity, BTC has formed a strong floor in the $23,000 to $23,500 range. They said…
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