The leading digital asset, Bitcoin, achieves the level above $6,000 after struggling hard below $9,500. This upside move may push price value towards $10,000. The rumor of PayPal entry in the crypto world and the BTC accumulation by whales are two key reasons behind the short bullish momentum.
Two Major Factors: PayPal and BTC Accumulation
Bitcoin surged $9,700 on June 22 after the rumor of PayPal went viral in the crypto community. According to the unknown sources, the giant payment company is preparing to launch the crypto services (buying & selling). The recent hiring by the company for crypto engineers confirms the rumor. However, the company has not shared any information about it yet.
It is observed by most analysts and analytics firms that hodlers of BTC are increasing in number from the last some weeks. For instance, crypto data firm Glassnode shared a graph that showed that whales remained busy in accumulating BTC 154 days out of 170 since the start of the year.