bitcoin As the $30,000 struggle continues, investors are trying to find out which way BTC will move.
In this regard, some analysts maintain their bullish position, while others warn investors that a decline may come.
Investors are ahead of the Fed’s interest rate decision, which will be announced next week. BTCWhile we could not make a clear decision about how to take a position in Crypto Season CryptoQuant analyst named He shared that there is a metric that investors should follow.
Analyst stating that Bitcoins invested by whales in stock markets are leading the market “Solving the Bitcoin Whale Ratio is the key to unraveling the market momentum” said.
Whale rate “The top 10 listings on exchanges make up the bulk of the total BTC inflow on an exchange” Explaining that, the analyst said that the whale rate gives a clear indication of which direction the market will move.
Stating that the whale rate is generally below 85% in emerging markets, the analyst warned investors against false rises.
“The whale rate in emerging markets is usually below 85%, but there is something to be aware of here.
The whale rate tends to linger above 85% when we are still in the grip of a bear market or facing a fake bull run for mass dumping.
Looking at the current situation, the 72 hour Whale Rate has reached unprecedented peak levels in the last 4-5 days and is well above 85%.
I think this is a clear sign of selling pressure.
When we look at historically, we see that this rate comes and goes between 85% and 90% and for the price to increase, the whale rate must decrease.
Because the rise in Bitcoin came after the rapid decline in the whale rate.
At this point, if this selling pressure on Bitcoin quickly subsides, only then can a positive impact on price action be seen and paving the way for higher levels.”
Finally, CryptoQuant analyst, who once again emphasized that this metric should be followed in the coming days, said that whales bitcoin stating that it can change the balances in the price “Watch out for the whales, they can change the scales!” said.
decoding the #Bitcoin Whale Ratio: The Key to Unraveling Market Momentum
Quicktake Post by @CryptoSeasons
Thread🧵 pic.twitter.com/ZU7987UdMt
— CryptoQuant.com (@cryptoquant_com) July 21, 2023
*Not investment advice.
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