Bitcoin At Critical Levels: Where Will It Move?

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Investors follow the data on the US economy closely. bitcoin It continued to trade with a marginal decline on Wednesday. As a result, BTC price declined below $27,000.

According to data from CoinMarketCap, the largest coin by market capitalization is currently trading at $26,701, down about 1.3% on the day. The price has fluctuated between $26,572 and $27,234 in the past 24 hours.

Cryptocurrency analyst Ali Martinez, bitcoin price important levels to watch out for that may point the next direction for stressed.

The analyst stated that the critical level is at $26,490. He pointed out that if this level cannot be held, there is a possibility of a sharp decline towards the $ 24,100 and $ 23,190 levels.

The upward price action will face resistance in the $28,180 to $28,990 range, where 1.24 million addresses have purchased a total of 973,220 BTC.

The accumulation trend is seen among Bitcoin whales who categorically own 1,000 to 10,000 BTC. Santiment reports that these large BTC holders have accumulated 84,897 units over the past five weeks.

Bitcoin’s key big whale address layer has been accumulating steadily over the past 5 weeks, and has accumulated a total of 84,897 BTC over that time while prices were stagnant. In the previous accumulation cycle in January, prices increased by +34.4%.

While the incoming data drew attention to the accumulation trend, Tether’s new investment strategies were also welcomed in the sector. Starting this month, Tether has announced that it will dedicate up to 15% of its net operating profit to the regular purchase of Bitcoin (BTC).

You can follow the current price action here.


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