Mixed Signals as Analysts Trade Perspectives

According to a news article on TradingView, retail on-chain accounts for Bitcoin (BTC) have been showing interest in buying the cryptocurrency at current prices. This surge in interest from retail investors is seen as a positive signal for BTC. The article mentions that the metric has already increased by 7% compared to the local bottom reached in May. While it may be too early to talk about a full recovery, the growing interest from retail investors is interpreted as a positive sign.

The article also highlights that the rally of Bitcoin will be supported by retail players, as major players in the market have cash from sales in March. This suggests that retail investors will contribute to the market's recovery.

Another seasoned analyst, Willy Woo, believes that the price run for BTC is yet to come. He analyzes the hashrate dynamics and foresees the capitulation of inefficient miners. Historically, miners with cost-ineffective hardware have left the segment after halving events. The long-anticipated capitulation of miners is expected to signal an opportunity for the next phase of the BTC rally.

In addition, there is news about unusual whale accumulation in Bitcoin. According to a top market analyst, a total of 12,700 BTC were sent to accumulation addresses in the last 24 hours, worth around $840 million. This indicates a potential rebound push for the coin, as large transactions have also seen a significant increase.

Learn more:

Bitcoin (BTC) 'Positive Signal' Sent by Retail, Data Shows - TradingView News
BTC USD - Bitcoin Price and Chart - TradingView
12,700 Bitcoin (BTC) in 24 Hours, What's Happening? - TradingView News

Unusual Whale Activity

There are several insights regarding the unusual whale accumulation of Bitcoin in the last 24 hours. Here are the key points:

• Withdrawal of Bitcoin from exchanges: In the past week, there has been a significant withdrawal of Bitcoin from major exchanges. Over 21,400 BTC were moved off crypto exchanges, indicating that large investors anticipate further price appreciation.
• Creation of new whales: During the same period, 13 new whales, each holding over 1,000 BTC, have emerged. This suggests that large investors are accumulating Bitcoin and positioning themselves for a potential rally.
• Increase in accumulation addresses: In the last 24 hours, around 12,700 BTC were sent to accumulation addresses, worth approximately $840 million. This indicates a growing trend of large transactions and suggests confidence and positive sentiment among investors
• Decrease in BTC deposits on exchanges: There has been a reduction in the number of BTC deposits on exchanges, indicating a lack of intent to sell. This is generally seen as a bullish sign for Bitcoin.
• Influence of spot Bitcoin ETFs: While retail-focused Bitcoin trading has been inconsistent, there has been a mild inflow of BTC into spot ETF products. This suggests that corporate investors are still interested in Bitcoin and could contribute to its recovery.
  Overall, the unusual whale accumulation of Bitcoin in the last 24 hours indicates a positive sentiment among large investors. The withdrawal of Bitcoin from exchanges, the creation of new whales, and the increase in accumulation addresses all suggest a potential rally in the near future.

Learn more:

Bitcoin Whales Enter Full Accumulation Mode: Here’s How Much BTC They Pulled From Exchanges - TradingView News
12,700 Bitcoin (BTC) in 24 Hours, What's Happening? - TradingView News
Bitcoin whale accumulation suggests pre-halving BTC rally will continue - TradingView News

Vietnamese Hacking Group "FIN9" gets Indicted for Stealing $71,000,000 in Cryptocurrency

It appears that the $71 million stolen by the Vietnamese hackers was not specifically through cryptocurrency-related crimes. Instead, they were involved in a series of computer intrusions that caused victim companies to collectively suffer losses of over $71 million.

The hackers, who were members of a cybercrime group known as "FIN9," targeted various companies in the United States. They gained unauthorized access to the computer networks of these companies through methods such as phishing campaigns and supply chain attacks [1]. Once inside the networks, the hackers used their access to steal or attempt to steal non-public information, employee benefits, and funds.

It is important to note that the search results did not mention any direct involvement of the hackers in cryptocurrency-related crimes. The stolen funds and information were likely obtained through various means within the targeted companies' systems.

Learn more:

District of New Jersey | Four Members of Notorious Cybercrime Group ‘FIN9’ Charged for Roles in Attacking U.S. Companies | United States Department of Justice
Vietnamese Cybercrime Group Indicted in US for $71M Crypto Hacking Scheme
4 Vietnamese hackers from the group "FIN9" were prosecuted in the US for cyberattacks and causing 71 million USD in losses related to cryptocurrency | US 2024