Purple Whales Dominate $40M Bitcoin Whale Activity
The Bitcoin market is witnessing a significant shift in whale activity as Purple entities accumulate $35M in Native BTC, while Brown Mega Whales offload $5M. According to FireCharts' CVD indicator whale activity data posted by @MI_Algos, the split highlights ongoing institutional positioning between Native BTC and wrapped BTC.
The accumulation of Native BTC by Purple whales comes as Bitcoin's price holds above its 50-EMA support at $83615.27 and EMA200 at $79935.56. The MACD has confirmed a golden cross at 48.6, indicating a bullish trend.
Despite the bullish sentiment, the RSI sits neutral at 58.14, suggesting that prices may continue to rise before any potential pullback.