Bitcoin retailers retreat? The address of the small wallet has dropped sharply as the market changes
The general crypto market has become volatile, and Bitcoin is the largest digital asset, undergoing bearish action because it is below Key $95,000 Price Mark. Currently, BTC is gradually launching steam, pushing the price close to $97,000. However, recent price performance has weakened investor sentiment, as most small BTC holders show suspicion about assets by continuously downloading coins.
Small Bitcoin wallet quickly resolved and disappeared
As Bitcoin hovers around key support levels and shows early signs of newer bearish pressure, it raises concerns about its short-term upward potential. During this period of decline, Ali Martinez, an on-chain expert and businessman, Overview Negative behavior of small BTC investors.
Observe this persistent negative emotion Small wallet address Holding 1 BTC or more BTC is usually considered a shrimp holder. These wallet addresses related to new immigrants and retail investors appear to have left the market due to recent price volatility and uncertainty.
Data show that the number of these wallets at least 1 BTC has dropped significantly by more than 3,400 times over the past two weeks. The decline in these wallets indicates that it is small Investors are losing confidence In the short-term outlook for BTC, even if large holders believe that they will expand their holdings.
Given the ongoing correction, this development marks a critical moment in BTC’s current cycle performance. If this trend continues, it is likely to trigger a short-term contraction The price of Bitcoincausing flagship assets to revisit the next critical support level at $92,000.
Ali Martinez also has it Highlight Faced with new market turmoil, whale investors have similar sentiments. Data on the chain shows that these big investors have significant sales pressure when unloading most of their shares.
A whale wallet that houses between 1,000 BTC and 10,000 BTC has sold about 50,000 in the past ten days BTC. According to Martinez, the increased sales pressure on whales is a “clear sign of profitability at the current level.” Specifically, this means high net worth investors are choosing to secure profits or hedge potential ongoing price corrections.
Such huge sales pressure Whale holder Reflecting a decline in belief in Bitcoin’s future as flagship assets show weak momentum after a brief uptrend. Given that large investors are repositioning, speculation is whether the trend will lead to a strong shake of Bitcoin.
Several key BTC indicators are falling
The fading performance of BTC has been extended to several key metrics. FundingVest, chain analyst and author, Famous The duo data showed that short pressure increased as spot accumulation continued.
Other indicators, such as Open Interest (OI), have fallen by more than 37% The funding rate has turned negativethe location is higher than permanent. These developments suggest that the market may be entering a reset mode or accumulating phase. However, experts believe this can be the prelude to BTC’s next bullish trend.
Featured images from Pixabay, charts from TradingView.com
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