Bitcoin's price has been volatile, currently sitting at $29,072 with no immediate support level. However, Bitcoin whales, who hold large amounts of the cryptocurrency, are continuing to accumulate more despite the market turbulence and not securing their profits. This accumulation suggests a positive dynamic in the market and anticipation of an upcoming price increase. The next Bitcoin halving is expected in 2024, and historical trends indicate a new market cycle will commence, potentially triggering significant price rallies. While major investors are banking on Bitcoin's long-term potential, retail investors should approach with caution and conduct thorough research.
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