Bitcoin reached a new high for the year 2021, hitting $31,000 last week. Whale and shark addresses have continued to accumulate during the recent price rally, with 71,000 coins accumulated by addresses holding between 10 to 10,000 Bitcoins over the past three weeks.
Despite facing selling pressure and dropping closer to $30,000, the drop in the BTC exchange reserve metric over the past month suggests a bullish sentiment among market participants. However, there are concerning signs such as a bearish divergence in the RSI indicator, which may indicate a potential correction or reversal soon.
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