Bitcoin [BTC] is finally seeing green, but what role did the whales play

After what can be considered a long and never-ending wait, Bitcoin BTC managed to find some green pastures on the charts finally. This sparked joy within the crypto-community as investors and enthusiasts were expecting a breakout soon.

Timeline of Bitcoin

If you ask anyone who made their fortune in Bitcoin today when the best time to buy Bitcoin is, they'd answer, “yesterday”, or “years ago”. And, to a large extent, their reply would hold a considerable degree of truth.

Cryptocurrency market inflows totaled $5 billion over the past 24 hours, indicating a slowdown in the market cap growth compared to the past few days. The post CryptoSlate Daily wMarket Update – Oct. 5: Bulls struggle to keep BTC above $20,000 appeared first on CryptoSlate.

The continued lack of consumer confidence was once again reinforced by the minuscule price movements across the cryptocurrency space. Bitcoin retreated 0.4% to US$20,238 on Thursday morning but was ever-so-slightly outpaced in its decline by its biggest rival by market capitalisation, Ethereum, which eased 0.5% to US$1,368.

On  October 5th 2022 the Crypto market was depicting some strength before declining and falling on bearish trend once again. There was a similar pattern witnessed in the stock market as well as the market managed to enter the recovery phase.

Cryptocurrency analytics platform Santiment says Bitcoin (BTC) whales have accumulated heavily over the past nine days. Santiment says that since Tuesday last week, Bitcoin whales have added Bitcoin worth approximately $931,309,410 at time of writing. According to the crypto analytics platform, this is the longest period of sustained accumulation by Bitcoin whales since May.

After experiencing a descending pattern for weeks, the world's first cryptocurrency, Bitcoin price has found some relief as BTC reclaimed $20,000 level. The past couple of days have been favorable to most of the cryptocurrencies as they have seen some decent gains.

Major coins traded slightly higher on Wednesday evening, even as the global cryptocurrency market cap fell 0.6% to $963.8 billion at 8:27 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin (CRYPTO: BTC) 0.2% 4% $20,250.79 Ethereum (CRYPTO: ETH) 0.4% 1.85% $1,363.45 Dogecoin (CRYPTO: DOGE) -0.6% 7.4% $0.065 Top 24-Hour Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour % Change (+/-) Price Ethereum Name Service (ENS) +9.3% $17.46 Helium (HNT) +6.4% $5.62 Trust Wallet Token (TWT) +6.26% ​​$0.975 See Also: How To Get Free Crypto Why It Matters: Bitcoin and Ethereum traded marginally in the green on Wednesday evening as the two-day stock market rally came to an end.

The American multinational fast food chain McDonald's has started accepting payments in Bitcoin and Tether in Switzerland's city of Lugana, populated by around 63,000 people. The announcement comes in a tweet by Bitcoin magazine on October 3.

Despite Bitcoin recording substantial gains in the last few days, an analyst believes it'll nosedive to $14k. Earlier this week, BTC experienced rocky times before giving the bulls something to cheer about.

After wading through a declining path for weeks, the crypto market and Bitcoin have suddenly entered another phase. The past few days have proved to be favorable for prices in the market.