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Bitcoin miners have shifted their strategy to accumulation, signaling a potentially bullish outlook for the crypto market.

Major tokens such as dogecoin (DOGE), cardano (ADA), and solana (SOL) slipped more than 5% in the past 24 hours as traders moved to lock in some profits after a strong week-long rally.
The broader crypto market surged alongside risk assets last week, fueled by macroeconomic tailwinds and renewed investor optimism, but signs are emerging that some overheated segments may be due for a pause.

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“Bitcoin has been hovering around the $104,000 level for the sixth day, experiencing increased rotation,” FxPro’s Alex Kuptsikevich told CoinDesk in an email. “This is quite expected behaviour as we approach the all-time highs of December and January, which served as turning points.”
“Ether is trading around $2615, having failed to consolidate above the $2700 mark, around which the 200-day moving average also passes. It is likely that after rallying 55% over the past seven days, the second-largest capitalised cryptocurrency will probably pause or start a correction with a potential target at $2400,” Kuptsikevich warned.

Sentiment indicators also reflect growing exuberance, with the Crypto Fear & Greed Index touching 73, approaching levels typically associated with overheated conditions, as noted Tuesday.
Earlier in the week, risk appetite surged after a combination of positive U.S. inflation data, strong earnings from China’s tech sector, and a breakthrough U.S.–China trade agreement boosted global equity markets. Crypto followed, with bitcoin briefly topping $104,000 and ether climbing to $2,700 — before both ran into resistance.
“China’s tech sector earnings surged in the wake of the US-China trade deal announcement, leading investors to hope for increased investments and innovations like AI last year,” Haiyang Ru, Co-CEO of the HashKey Exchange Business Group, said in a Telegram message.
“Additionally, a monthly report revealed that US inflation was lower than expected, adding more fuel for a continued bull run in the markets,” Ru said.
Still, institutional activity remains robust. Santiment data from earlier this week showed mid-sized bitcoin holders, or wallets with 10 to 10,000 BTC, had accumulated over 83,000 BTC in the past month.

🐳🦈 Bitcoin’s key whale & shark tier (holding 10-10K BTC) have now accumulated 83,105 more BTC in the past 30 days. Meanwhile, the smallest retail holders (holding

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