bitcoin Although it is difficult to predict the next move of the price, it is noteworthy that it has been trading in a “narrow range” for a while. On the other hand, the volume declined, causing this narrow gap to continue. While some are waiting for the uptrend to end, others believe a parabolic rally may be on the way.
However, the developments that investors are worried about stem from whale movements. Whales have started selling their assets in recent days. Addresses that hold significant assets, although not as much as whales, continue to accumulate. centimentclosely monitors the movements of addresses holding 1000 to 10,000 BTC.
The behavior of the whales suggests either that the FOMO factor is increasing for top-level addresses or that a breakout is about to occur. Moreover, bitcoin price It also fell below $30,000 for a while, but recovered thinly, pushing its value above $30,500. Almost all of the traders who bought BTC in the last seven days have not moved and are still waiting. doing.
Prices are set at the margin.
97% of all #Bitcoin has not moved in the last 7 days.
NEWS CONTINUES BELOWA large majority of trading volume is the same BTC being passed back and forth and miners selling new coins to cover expenses.
Any spark in demand can quickly send the price higher. pic.twitter.com/qbdPAaMr42
— Joe Burnett (🔑)³ (@IIICapital) April 14, 2023
While miners continued to liquidate to cover expenses, the majority of the trading volume remained unchanged, helping the Bitcoin price ready to rise further. However, a notable increase could be imminent beyond the key $32,000 resistance.
You can follow the current price action here.