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Whales Surfacing. The price of Bitcoin settled well above the $35k level, yet failed to extend its gains beyond $38,500 — not for a lack of trying. Bullish signals are likely to remain active as whales and long-term holders have been buying the dip and stacking for the past week. Bitcoin and many altcoins started to show a strong upside trend after the release of May inflation data that has apparently exceeded expectations by far. The price paid by U.S consumers rose at the fastest pace since 2008.