The fluctuation in Bitcoin continues to worry crypto money investors.
Bitcoin, which went above $50,000 at the weekend and even closed the week above $50,000, said hello to the week with a 4% loss.
The withdrawal of Bitcoin to the level of $ 48,000 again causes a red day in altcoins.
We think that these pullbacks should be considered normal before the FED decision. In our analysis we quoted over the weekend, we stated that we would monitor whether the daily and weekly closings were above $48,900, even if there were such pullbacks.
After the FED meeting on Wednesday, we maintain our expectation that the pressure on the markets will decrease partially.
Small investors continue to be uneasy about movements in Bitcoin, while big players continue to buy the bottom.
According to data provided by Glassnode, the number of BTC in the Canadian-based Spot Bitcoin ETF Purpose ETF has increased by 4342 since the beginning of December. This shows that around 200 million worth of direct purchases of Bitcoin have been made.
Commenting on the subject, Zhu Su, CEO of Three Arrows Capital, said, “Every cryptocurrency sold finds a safe haven this month. Those who have to sell distribute their money to patient, long-term buyers.” said.
*Not Investment Advice.