- Critical buy zones for Bitcoin are worth looking at right now
- Bitcoin whales have accumulated 358,000 BTC in July, marking an “unprecedented” transfer of wealth
Bitcoin (BTC) has experienced considerable price fluctuations recently, dropping from around $67,000 to below $65,000 within just 24 hours. This volatility has caught the attention of traders and analysts alike.
In fact, Zen, a popular crypto trader and analyst, noted on X that Bitcoin’s decline mirrored movements in the stock market. He claimed,
“$BTC followed stock market and dumped. Nearest zone of interest 64.5-65k I mentioned before was skipped in one 1H candle – that is why I wrote that it is not good for blind limit orders and requires monitoring at lower timeframes.”
He emphasized the need for caution and close monitoring of price movements to avoid premature buy orders.
Zen further identified critical price zones, stating that the first solid buy zone is around $61.4K to $61.8K, with a lower zone potentially covering the CME gap around $58.5K to $60.5K.
Source: X
Accumulation by Bitcoin whales
Additionally, on-chain analytics platform CryptoQuant also observed a notable trend of Bitcoin accumulation by large-volume investors, also known as whales. CEO Ki-Young Ju highlighted this in a recent post, describing the flow of coins to these investors as “unprecedented.”
He stated that over the past month, 358,000 BTC has been moved to permanent holder addresses. July alone saw global spot ETF inflows of 53,000 BTC.
Despite not all BTC being in custody wallets, the accumulation phase is evident though, with a substantial transfer of wealth within the crypto market.
Source: CryptoQuant
Bitcoin was trading at $64,222 at press time, with a 24-hour trading volume of $37,443,835,918. This underlined a 3.35% decline over the aforementioned period.
Moreover, the number of active Bitcoin addresses has shown some variability too, ranging from approximately 500K to 1.2M.
At the time of writing, for instance, active addresses numbered 699K, with a transaction volume of 9266 BTC – Marking a decline from previous peaks seen in late February and early June.
Source: Santiment
Additionally, the Total Value Locked (TVL) in Bitcoin stood at $701.92 million, reflecting ongoing engagement and investment in the cryptocurrency market.
The dynamics of active addresses and transaction volumes provide valuable insights into market activity and investor behavior.
Impact of potential political developments
The upcoming Bitcoin 2024 conference has generated excitement, particularly due to the involvement of 2024 presidential candidate Donald Trump.
Trump has been vocal about his support for Bitcoin, proposing the addition of BTC as a dollar reserve. This ambitious plan aims to establish Bitcoin as digital gold. The potential influence of Trump’s presidency on Bitcoin’s price is a topic of considerable interest among crypto enthusiasts.
- Critical buy zones for Bitcoin are worth looking at right now
- Bitcoin whales have accumulated 358,000 BTC in July, marking an “unprecedented” transfer of wealth
Bitcoin (BTC) has experienced considerable price fluctuations recently, dropping from around $67,000 to below $65,000 within just 24 hours. This volatility has caught the attention of traders and analysts alike.
In fact, Zen, a popular crypto trader and analyst, noted on X that Bitcoin’s decline mirrored movements in the stock market. He claimed,
“$BTC followed stock market and dumped. Nearest zone of interest 64.5-65k I mentioned before was skipped in one 1H candle – that is why I wrote that it is not good for blind limit orders and requires monitoring at lower timeframes.”
He emphasized the need for caution and close monitoring of price movements to avoid premature buy orders.
Zen further identified critical price zones, stating that the first solid buy zone is around $61.4K to $61.8K, with a lower zone potentially covering the CME gap around $58.5K to $60.5K.
Source: X
Accumulation by Bitcoin whales
Additionally, on-chain analytics platform CryptoQuant also observed a notable trend of Bitcoin accumulation by large-volume investors, also known as whales. CEO Ki-Young Ju highlighted this in a recent post, describing the flow of coins to these investors as “unprecedented.”
He stated that over the past month, 358,000 BTC has been moved to permanent holder addresses. July alone saw global spot ETF inflows of 53,000 BTC.
Despite not all BTC being in custody wallets, the accumulation phase is evident though, with a substantial transfer of wealth within the crypto market.
Source: CryptoQuant
Bitcoin was trading at $64,222 at press time, with a 24-hour trading volume of $37,443,835,918. This underlined a 3.35% decline over the aforementioned period.
Moreover, the number of active Bitcoin addresses has shown some variability too, ranging from approximately 500K to 1.2M.
At the time of writing, for instance, active addresses numbered 699K, with a transaction volume of 9266 BTC – Marking a decline from previous peaks seen in late February and early June.
Source: Santiment
Additionally, the Total Value Locked (TVL) in Bitcoin stood at $701.92 million, reflecting ongoing engagement and investment in the cryptocurrency market.
The dynamics of active addresses and transaction volumes provide valuable insights into market activity and investor behavior.
Impact of potential political developments
The upcoming Bitcoin 2024 conference has generated excitement, particularly due to the involvement of 2024 presidential candidate Donald Trump.
Trump has been vocal about his support for Bitcoin, proposing the addition of BTC as a dollar reserve. This ambitious plan aims to establish Bitcoin as digital gold. The potential influence of Trump’s presidency on Bitcoin’s price is a topic of considerable interest among crypto enthusiasts.
Hi my loved one I wish to say that this post is amazing nice written and include approximately all vital infos Id like to peer more posts like this
get clomid without insurance how to buy generic clomiphene where to buy generic clomid no prescription where to get generic clomiphene tablets how to get clomid price can i order clomid without a prescription can i order generic clomid without a prescription
More posts like this would make the blogosphere more useful.
I’ll certainly carry back to read more.
buy rybelsus 14 mg sale – buy cyproheptadine generic periactin 4 mg generic
esomeprazole capsules – https://anexamate.com/ esomeprazole 20mg ca
where can i buy coumadin – https://coumamide.com/ buy losartan 50mg pills
meloxicam 7.5mg usa – https://moboxsin.com/ mobic 15mg cost
order generic deltasone 5mg – aprep lson order generic prednisone 10mg
buy ed pills us – https://fastedtotake.com/ causes of ed
purchase amoxicillin for sale – combamoxi.com buy generic amoxil over the counter
buy fluconazole pill – on this site order fluconazole for sale
cialis 20mg side effects – https://ciltadgn.com/# cialis online no prior prescription
cialis at canadian pharmacy – cialis cost at cvs buying cialis generic
purchase zantac sale – https://aranitidine.com/# generic ranitidine
100mg sildenafil tablets – https://strongvpls.com/ 100mg viagra pill
More articles like this would make the blogosphere richer. buy nolvadex for sale
More posts like this would make the blogosphere more useful. https://buyfastonl.com/azithromycin.html
I couldn’t hold back commenting. Adequately written! https://ursxdol.com/furosemide-diuretic/
This is the stripe of topic I take advantage of reading. https://prohnrg.com/product/get-allopurinol-pills/
Proof blog you procure here.. It’s intricate to assign high quality belles-lettres like yours these days. I truly comprehend individuals like you! Take vigilance!! https://aranitidine.com/fr/ivermectine-en-france/
I’ll certainly carry back to be familiar with more. https://ondactone.com/spironolactone/
I am in fact thrilled to glance at this blog posts which consists of tons of profitable facts, thanks towards providing such data.
https://doxycyclinege.com/pro/meloxicam/
The depth in this piece is exceptional. http://www.01.com.hk/member.php?Action=viewprofile&username=Tllnck
forxiga 10 mg canada – on this site order forxiga 10 mg online
purchase orlistat generic – orlistat brand cost orlistat
More text pieces like this would make the web better. http://zqykj.cn/bbs/home.php?mod=space&uid=303375