- Buying pressure on Bitcoin increased over the last week.
- BTC successfully tested a support and might soon move towards $68k.
Bitcoin [BTC] has once again entered the consolidation phase as its price lingered around $67k. Meanwhile, the big-pocketed players in the game chose to cash in profit. Will this have a negative impact on BTC’s price in the coming days?
Bitcoin whales create buzz
Ali, a popular crypto analyst, recently posted a tweet highlighting an interesting development. As per the tweet, Bitcoin whales recently cashed in over $1.4 billion in profits. This was evident from the massive rise in BTC’s long-term holders whales’ realized profit in USD.
Source X
In fact, AMBCrypto also reported earlier the rise in BTC whale activity. BTC whales’ have increased as they expand their holdings towards the 4 million mark. With this, BTC whales reached the 2021 levels.
AMBCrypto then planned to check market sentiment to find out whether the surge in whale activity had any impact on buying behavior. As per our analysis of Santiment’s data, BTC’s exchange outflow spiked on the 20th of October 2024.
Thanks to that, BTC’s supply on exchanges dropped while its supply outside of exchanges increased. All of these metrics indicated that buying pressure on the king coin was high. A hike in the metric is considered a bullish signal as it is often followed by price hikes.
Source: Santiment
Will BTC finally turn volatile again?
While all this happened, BTC’s price started to consolidate. The king coin’s price moved only marginally over the last week. At press time, it was trading just above $67k.
To better understand whether the rise in buying pressure will allow BTC to register gains, AMBCrypto checked CryptoQuant’s data.
According to our analysis, BTC’s aSORP turned red. This indicated that more investors have recently started selling at a profit. In the middle of a bull market, it can indicate a market top.
Another bearish metric was the NULP. The metric revealed that investors were in a belief phase where they are currently in a state of high unrealized profits.
Source: CryptoQuant
Apart from this, Bitcoin’s long/short ratio also witnessed a major decline. A drop in the metric means that there are more short positions in the market than long positions.
Whenever that happens, it indicates that bearish sentiment around an asset is increasing.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
We then took a look at the king coin’s daily chart. The Bollinger Bands revealed that BTC has successfully tested its support at the 20-day SMA.
Moreover, the technical indicator also suggested that BTC’s price was in a high volatility zone. These indicated that in case of an upward price move, BTC might soon reach its resistance at $68.5k.
Source: TradingView
- Buying pressure on Bitcoin increased over the last week.
- BTC successfully tested a support and might soon move towards $68k.
Bitcoin [BTC] has once again entered the consolidation phase as its price lingered around $67k. Meanwhile, the big-pocketed players in the game chose to cash in profit. Will this have a negative impact on BTC’s price in the coming days?
Bitcoin whales create buzz
Ali, a popular crypto analyst, recently posted a tweet highlighting an interesting development. As per the tweet, Bitcoin whales recently cashed in over $1.4 billion in profits. This was evident from the massive rise in BTC’s long-term holders whales’ realized profit in USD.
Source X
In fact, AMBCrypto also reported earlier the rise in BTC whale activity. BTC whales’ have increased as they expand their holdings towards the 4 million mark. With this, BTC whales reached the 2021 levels.
AMBCrypto then planned to check market sentiment to find out whether the surge in whale activity had any impact on buying behavior. As per our analysis of Santiment’s data, BTC’s exchange outflow spiked on the 20th of October 2024.
Thanks to that, BTC’s supply on exchanges dropped while its supply outside of exchanges increased. All of these metrics indicated that buying pressure on the king coin was high. A hike in the metric is considered a bullish signal as it is often followed by price hikes.
Source: Santiment
Will BTC finally turn volatile again?
While all this happened, BTC’s price started to consolidate. The king coin’s price moved only marginally over the last week. At press time, it was trading just above $67k.
To better understand whether the rise in buying pressure will allow BTC to register gains, AMBCrypto checked CryptoQuant’s data.
According to our analysis, BTC’s aSORP turned red. This indicated that more investors have recently started selling at a profit. In the middle of a bull market, it can indicate a market top.
Another bearish metric was the NULP. The metric revealed that investors were in a belief phase where they are currently in a state of high unrealized profits.
Source: CryptoQuant
Apart from this, Bitcoin’s long/short ratio also witnessed a major decline. A drop in the metric means that there are more short positions in the market than long positions.
Whenever that happens, it indicates that bearish sentiment around an asset is increasing.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
We then took a look at the king coin’s daily chart. The Bollinger Bands revealed that BTC has successfully tested its support at the 20-day SMA.
Moreover, the technical indicator also suggested that BTC’s price was in a high volatility zone. These indicated that in case of an upward price move, BTC might soon reach its resistance at $68.5k.
Source: TradingView
Услуги грузоперевозок от DaTransport охватывают весь спектр логистики, включая мультимодальные перевозки, доставку негабаритных грузов и экспедирование. Мы обеспечиваем индивидуальный подход для каждого клиента, гарантируя сохранность груза и точное соблюдение сроков.
where buy clomiphene without dr prescription where to get clomid how to buy cheap clomiphene price cost cheap clomiphene without a prescription buy generic clomiphene without prescription where buy generic clomiphene pill where can i buy cheap clomid without prescription
Greetings! Utter gainful suggestion within this article! It’s the scarcely changes which liking obtain the largest changes. Thanks a lot in the direction of sharing!
azithromycin 500mg sale – sumycin 500mg uk brand flagyl
oral semaglutide 14mg – cyproheptadine pills cyproheptadine 4mg usa
order domperidone 10mg – buy motilium online cheap buy generic cyclobenzaprine 15mg
order augmentin 625mg without prescription – https://atbioinfo.com/ buy acillin without a prescription
esomeprazole pills – nexium to us how to get esomeprazole without a prescription
buy coumadin 5mg pill – https://coumamide.com/ order cozaar 25mg generic
generic meloxicam 7.5mg – https://moboxsin.com/ cheap mobic 7.5mg
buy deltasone 5mg online cheap – aprep lson order deltasone 10mg pill
red ed pill – fast ed to take where can i buy ed pills
cheap amoxicillin tablets – combamoxi.com amoxil cost
buy generic cenforce over the counter – https://cenforcers.com/# cenforce usa
how to get cialis prescription online – https://ciltadgn.com/# cialis priligy online australia
difference between sildenafil tadalafil and vardenafil – this cialis dosage for ed
zantac where to buy – online zantac 300mg sale
generic viagra cheap shipping – best price for viagra 100mg sildenafil citrate 100 mg tab
This is the make of post I find helpful. online
More posts like this would create the online space more useful. https://ursxdol.com/doxycycline-antibiotic/
I’ll certainly bring to be familiar with more. https://prohnrg.com/
Greetings! Very useful par‘nesis within this article! It’s the scarcely changes which wish turn the largest changes. Thanks a lot towards sharing! fildena temps effet