Now that we have established that there is less confidence in the market, we can look into what whales are doing in these conditions. This may help determine the likely outcome in the next few days.
The number of Bitcoin addresses holding over 1,000 BTC dropped substantially in the last five days. this explains the current sell pressure, as well as why it failed to continue its previous rally attempt in the first half of last week.If Bitcoin’s current sell pressure prevails, then investors should expect another price drop below the $16,000 mark. Bitcoin traded at $16,219 at press time.The second half of last week demonstrated some sideways price action.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin [BTC] analyst says bears are not done yet because…The bottom might not be in, as an analyst opined that the bear market could last longer than projected There could be short-term respite due to the indication of a bullish crossover “Bitcoin [BTC]‘s bottom is close” has been the order of the day since the king coin traded at a price of $15,800. However, […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Weekend sees low BTC volatility; 2 important levels remain unbeatenDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Bitcoin managed to recover and climb back above the $16.2k level However, there was no promise of an imminent bullish move Bitcoin faces strong resistance at the $17k mark, which is a psychological round number […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin ‘Millionaire’ wallets are going down: Is it a thing to worry about?As the number of Bitcoin millionaires dropped by 80% annually, they are becoming an increasingly rare breed. There are currently just 23,000 BTC wallets with a balance worth $1 million or more, according to the most recent data from on-chain analytics company Glassnode. There were 23,245 BTC wallets with a balance of more than $1 […]
Source: CryptoAmb - 🏆 22. / 68 Read more »