Bitcoin Whales Are Back: Three Indicators Suggest A Run Toward $130,000
As Bitcoin (BTC) takes a brief breather after creating a new all-time high (ATH) above $125,000, on-chain data shows that three key indicators played a major role in the digital asset’s latest rally to new highs. These Three Indicators Suggest More Room For Bitcoin According to a CryptoQuant Quicktake post by contributor Arab Chain, fresh data from Binance suggests that BTC is witnessing one of its most significant buying phases since mid-year. Notably, BTC’s price has surged from around $117,000 to $124,000 since the beginning of October. Related Reading: Bitcoin’s On-Chain Roadmap Shows....
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Data suggest Bitcoin’s price drops at each new all-time high are the result of “mega whales” selling into liquidity. Bitcoin price has re-established the $40,000 level as support but as bull push toward a new all-time high the possibility of another sharp sell-off looms.According to analysts at Material Indicators, a crypto analytics company, mega-whales sold off steeply when Bitcoin hit $40,000 on Jan. 7. This led to a quick 10% drop to the $36,000 area over the next few hours.The dip was quickly bought up, eventually pushing the price above $41,000 in the next 12 hours. However, BTC saw....
According to on-chain analysis, some Ethereum indicators are showing signals that whales are continuing to accumulate the cryptocurrency. Ethereum Shows Negative Netflows As Exchange Reserves Continue The Downtrend As pointed out by a CryptoQuant post, ETH indicators seem to be moving in directions that suggest whales are continuing to accumulate. There are three important metrics to consider here: the all exchanges netflow, the all the exchanges reserve, and the unique Ethereum 2.0 depositors count. The all exchanges netflow is an indicator that shows the net amount of ETH entering or....
Bitcoin price action may be boring for many, but whales have been busier than ever behind the scenes, data suggests. Bitcoin (BTC) analysts are eyeing short-term volatility as whales begin unprecedented behavior.Fresh data shows that whales have not only been highly active on the market — they’ve been moving record amounts of BTC.Whale activity beats Bitcoin all-time highsDespite BTC price action staying in a narrow, uninspiring range of around $40,000, large-volume Bitcoin investors are anything but calm.In recent weeks, these whales have shifted more coins around the network than ever....
The price of Bitcoin dropped below $30,000 in a quick swoop on the third retest in two weeks of the support area. In the past 48 hours, Bitcoin has tested the $30,500 support level on two occasions. Historically, when a major support area is tested repeatedly, it often breaks. On the third retest on Jan. 27, Bitcoin broke below $30,000. However, $30,000 is a highly important support level for BTC, and hence, whales might try to buy the level to prevent a further breakdown after reclaiming it.Whale clusters suggest three key levels in the near term: $34,970, $29,314 and $28,727. Currently,....
Ethereum whales are no doubt some of the biggest fans of meme coin Shiba Inu but it seems even the whales are starting to feel the heat of the downtrend. This has resulted in the top whales significantly decreasing their holding in the digital asset. Now, these whales still hold a reasonable portion of […]