Bitcoin $120,894.38recently reached the highest level of all time with $ 124,474. However, in the last 24 hours, there was a withdrawal of 3.5 percent. In this decrease, the sales direction of the major investors (whales) is considered to be effective.
Whale movements and effects
In the last 24 hours, 6,060 Bitcoin was deposited in the Binance Exchange. This amount is calculated as approximately 722 million dollars. According to Cryptoquant data, these transfers were mainly made by whales. This step of whales is claimed to depend on economic data such as recent US unemployment applications, producer price index and retail sales.
Ja Maartunn, one of the Cryptoquant analysts, evaluated these developments as follows:
“It is thought that big investors have taken positions before rising prices and economic developments this week.”
It is estimated that the movements of the whales are often negative effects in the market and reduce the price.
The increase in Bitcoin balance on the Binance exchange indicates that investors act as preparation for uncertainties about the market. According to the interpretation, such transfers are thought to show that market sensitivity is changing.
The attitude of long -term investors
Hodler Net Position Change indicator follows the attitude of long -term investors. According to the latest data, it is stated that this indicator has started to leave the “bear market” zone and that sales pressure is reduced. Long -term investors seem to be protecting their positions despite existing fluctuations.
Experts say that this trend can stabilize the market and support prices to recover again as $ 122,000. Despite short -term price decreases, their resistant to sales can contribute to the strengthening of the market in the long term.
The latest situation in prices and possible scenarios
The current price of Bitcoin is traded at $ 119.186 after a decrease below the $ 120,000 threshold. This decline is considered a correction after the last summit. Nevertheless, the price of the price in the $ 119,000 band is seen as a sign that the decline may be short -term.
Due to the wavy market sensitivity, Bitcoin can win the level of $ 120,000 again as a solid support. In the event that buyers maintain this figure, the price is expected to recover and approach to $ 122,000.
However, if the sales pressure increases, it is stated that the price may go below the support of $ 117,261, and if this level is broken, Bitcoin may fall up to 115,000 dollars or below. In such a case, it is emphasized that the market appearance will weaken and the expectation of rise may be invalid.
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.
