Cryptoquant CEO according to Young Ju Bitcoin (BTC) $83,315.11 The bull cycle ended in the market. In -chain data indicates that it will either decrease or horizontal during the next 6 to 12 months. JU said the new liquidity has decreased and the new whale level investors sell BTCs at lower prices.
In -chain data support the decline in Bitcoin
As it is known, in -chain data play a critical role to understand Bitcoin’s price movements. at this point MVRV, Sopr And Nupl Indicators such as price cycles are among the important in -chain data used to determine. Cryptoquant According to the data, the average of these metrics is used to determine the main trend rotation points of the 365 -day moving average Bitcoin.
According to the latest updated data, this moving average has entered a re -decline trend. Historically, this level of Bitcoin market bull or bear It was effective in determining the entry of the trend. 2014, 2018 and 2022 markets similar to a signal is seen. This is Bitcoin marketThe sales pressure increased and the biggest period crypto currencydecrease or horizontal movement in the price of the price.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
Bitcoin whales started sale of assets
Bitcoin whalesThe movements of the market strengthen the expectation of decrease in the market. According to JU, new whales sell BTCs at their hands at lower prices than the price they buy. This means that the market has a decrease in liquidity source.
Past data shows that when the bull cycle ends, whales sell high amounts of sales. In the 2018 and 2021 cycles, a similar situation was experienced and the price decreased significantly. The existing chain signals also show that whales make profit intake. As a result, the market is likely to remain under sales pressure in the coming months.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
