![13 YouTube Description Templates That Have Helped Our Videos Go Viral [+ Examples]](https://www.hubspot.com/hubfs/youtube-description-template_8.webp)
.png)
Whales Moving Bitcoins, Is a Price Recession on the Way?
The post Whales Moving Bitcoins, Is a Price Recession on the Way? appeared on BitcoinEthereumNews.com. A Bitcoin whale transferred 14,000 BTC after being inactive for seven to ten years. However, the transfer wasn’t directed to any exchange, possibly indicating that the coins were not intended to be sold. Historical data reveals that massive Bitcoin transfers do not consistently lead to downward price movements. Bitcoin remains active in the stable value range at the $98,000 level following its massive transaction activity. CryptoQuant data shows that Bitcoin wallet owners with long-time ownership spent a significant portion of their holdings. Long-term BTC holders appear to regain their market activity as they evaluate their investment strategy during the present valuation conditions. A price decrease did not occur after the whale movement, revealing that investors have refrained from considering this shift an urgent bearish indicator. Bitcoin Spent Output Chart | Source: CrytpoQuant Bitcoin Price in a Consolidation Zone The present price consolidation of Bitcoin validates the technical analysis of its market movements. – Advertisement – Bitcoin was trading at $97,521 as of press time. Market activity demonstrates a constricted price range, which allows the price to move between solid support levels at $95,500 and $96,500 and resistant zones starting at $99,000 and continuing up to $100,000. This could mean that accumulation and distribution are taking place now. 1-hour BTC/USD Chart | Source: TradingView The support zone has been tested on multiple instances, and buying pressure shows at the spot. Investor demand remains strong following this support zone rebound. Buyers are forcing BTC prices up toward middle levels and resistance zones. The resistance zone between $99,000 and $100,000 has proven strong enough to turn away buyers, making it a central supply zone. The price has not established itself above this supply area because active sellers persist throughout this zone. The price could see a bullish trajectory if it breaks out cleanly…
The post Whales Moving Bitcoins, Is a Price Recession on the Way? appeared on BitcoinEthereumNews.com.
A Bitcoin whale transferred 14,000 BTC after being inactive for seven to ten years. However, the transfer wasn’t directed to any exchange, possibly indicating that the coins were not intended to be sold. Historical data reveals that massive Bitcoin transfers do not consistently lead to downward price movements. Bitcoin remains active in the stable value range at the $98,000 level following its massive transaction activity. CryptoQuant data shows that Bitcoin wallet owners with long-time ownership spent a significant portion of their holdings. Long-term BTC holders appear to regain their market activity as they evaluate their investment strategy during the present valuation conditions. A price decrease did not occur after the whale movement, revealing that investors have refrained from considering this shift an urgent bearish indicator. Bitcoin Spent Output Chart | Source: CrytpoQuant Bitcoin Price in a Consolidation Zone The present price consolidation of Bitcoin validates the technical analysis of its market movements. – Advertisement – Bitcoin was trading at $97,521 as of press time. Market activity demonstrates a constricted price range, which allows the price to move between solid support levels at $95,500 and $96,500 and resistant zones starting at $99,000 and continuing up to $100,000. This could mean that accumulation and distribution are taking place now. 1-hour BTC/USD Chart | Source: TradingView The support zone has been tested on multiple instances, and buying pressure shows at the spot. Investor demand remains strong following this support zone rebound. Buyers are forcing BTC prices up toward middle levels and resistance zones. The resistance zone between $99,000 and $100,000 has proven strong enough to turn away buyers, making it a central supply zone. The price has not established itself above this supply area because active sellers persist throughout this zone. The price could see a bullish trajectory if it breaks out cleanly…
What's Your Reaction?
