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Crypto Market Poised for Year-End Rally as Whale Activity Increases

Bitcoin, initially rising from below 70,000 USD to over 108,000 USD post US elections, has dipped to 94,000 USD. This fluctuation is notable in light of potential market changes as 2024 concludes, offering insights into Bitcoin’s role amidst evolving market dynamics.

MAJOR investors are accumulating altcoins like Dogecoin during price dips. This strategic accumulation suggests potential price spikes, driven by whales taking advantage of low trading volumes. Such whale activity highlights the influence of larger stakeholders on the volatile crypto market, particularly focusing on speculative coins.

Binance’s stablecoin reserves, totaling around 29 billion USD, suggest a bullish market outlook. Stablecoins serve as pivotal tools for liquidity during volatility, supporting seamless transactions between fiat and crypto. This influx underscores the growing importance of stablecoins in maintaining stability in fluctuating market conditions.

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