The recent changes in the Bitcoin market brought up the positive approach of Arthur Hayes, former BitMEX CEO, and the intensive purchasing activities of big investors. Hayes, rather than turning to the Altcoins, while increasing the position of Bitcoin, Bitcoin’s share in the market is possible to reach around 70 %of the dominance, he said.
Just buys bitcoin
Hayes, social media shares, he said he did not invest in Altcoins and focused on Bitcoin. In line with these statements, it was supported by the opinion that the monetary policies of the central banks would be in favor of Bitcoin. The following description reflects Hayes’s approach:
“I am busy all day in the Bitcoin position and I will continue this situation. Altcoin is not included in our investment area, the Bitcoin dominance is moving towards 70 %.” – Arthur Hayes
On-Chain Analysis company Glassnode points out that major investors increase Bitcoin intake. It has been observed that investors with assets over 10,000 BTC have reached an almost ideal purchase score as of the end of the month. This gives the impression that large market players are actively purchasing in the market.
According to Glassnode data, there are significant differences between the behavior of small investors and the purchase strategies of large investors. While sales increase in small transactions, large investors continue to make intensive purchases.
How many dollars is the Bitcoin support level?
In terms of technical analysis, Bitcoin has created a prominent level of support of around $ 74,000. According to market data, this level of support is considered as a point where investors pay attention and can affect the direction of price movements.
In addition, according to OKX Ortapi TED’s assessment, the 50-EMA level is a critical reference point for Bitcoin. TED said that if this technical level is exceeded, there may be recovery in prices, otherwise the corrections may withdraw the price down.
“BTC is trying to re-capture the 50-EMA level per week. This level is a significant threshold for prices, and if it is overcome, a recovery signal may occur.” – TED
When the fluctuations in the market were evaluated in the light of the strategies of different investor groups and technical indicators, the importance of support levels in Bitcoin’s short -term movements was pointed out.
In the general assessment, positive opinions about Bitcoin and the active purchases of large investors were among the developments in the market. Investors evaluate the risks in the market, taking into account the policies and technical support points of the Central Bank.
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.
