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Bitcoin bulls continue to feel the pinch as the currency has dropped 8.17 percent in value over the past seven days. BTC investors are looking forward to a market bottom, and Glassnode claims that the market has bottomed out.
Nonetheless, whales and major institutions are currently in the accumulation phase, so it doesn’t matter if the market has bottomed out or is bottoming out right now.
A research states that this accumulation indicates whales are increasing their purchases rather than preparing their portfolios for a sale. The indication for whales to buy more is a bull green light from retail investors.
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