Mass terminals of bitcoins (BTC) per hundreds of millions of dollars from large exchanges attracted great attention in the crypto community.
If Bitcoin (BTC) will not be able to overcome $ 86,000, price correction is possible, especially given the fluctuations of investors’ trust.
Whales bring BTC to hundreds of millions of dollars
According to the X OnchainDatanard account on April 17, several large bitcoin kits implemented significant bitcoin conclusions from leading exchanges. Galaxy Digital deduced 554 BTC (approximately $ 76.74 million) with OKX and BINANCE. ABRAXAS CAPATAL deduced 1,854 BTC (costing about $ 157.26 million) with Binance and Kraken.
Two other whales identified by 1MNQX and 1beru addresses were withdrawn from Coinbase 545.5 BTC ($ 45.5 million) and 535.2 BTC ($ 45.44 million), respectively. Within one day, more than $ 280 million in bitcoins were withdrawn from exchanges.
Such steps of bitcoin kits often indicate a strategy for moving BTC into cold storage. This is usually considered as a bull signal that reduces the pressure of sales and reflects the expectations of future prices.
Growth in the number of new buyers of bitcoin
The Glassnode report emphasizes the sharp increase in the number of new Bitcoin buyers. The influx of new investors can lead to short -term price increase. However, long -term holders (LP) suspended the accumulation, which signals caution against the background of increased market volatility.
Ali analyst used the TD Sequential indicator to forecast the Bitcoin price trend. TD SEQUENTIAL showed a purchase signal on a weekly graphics.
If bitcoin steadily closes above $ 86,000, further growth is likely. Now it is above $ 80,000, which indicates the potential of growth. However, it is necessary to overcome critical resistance by $ 86,000 in order to confirm the bull trend.
On the other hand, the tributaries in the ETF on BTC have decreased significantly. This indicates a weakening of investors’ trust and can put pressure on prices without new catalysts.
According to Lookonchain, more than $ 1.26 billion in bitcoins was withdrawn from Babylon. If these funds return to exchanges, this can increase the pressure of sales, which will make it difficult to overcome important resistance levels.
Be in the know! Subscribe to Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
