Bitcoin Whale Activity Hits Lowest Level Since September 2023
- Whale Activity Decline: Santiment reports that daily Bitcoin transactions over $100,000 have dropped to 6,417, the lowest since September 2023, indicating a cautious stance among large holders that could impact market liquidity and price stability.
- High-Value Transfers Decrease: Transfers exceeding $1 million have fallen to 1,485, marking the lowest level since October 2024, suggesting that whale investors are significantly less active amid policy and geopolitical risks, potentially leading to a lack of strong buying support in the market.
- Cautious Market Sentiment: Although Bitcoin recently reached a high of $76,000, it subsequently fell below $68,000, reflecting the market's sensitivity to external events as investors await further developments regarding the CLARITY Act and the conflict in the Middle East, resulting in a wait-and-see approach.
- Diminished Holder Confidence: Analysts note that Bitcoin's Realized Cap for new holders has hit a low level typically seen after speculative interest wanes, indicating that many weak hands have been cleared from the market, leaving more committed investors, but short-term holders are facing significant losses, which may lead to further market volatility.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 57883.645 | 62622.153 | 66522.985 | 71261.493 | 75162.325 | 79900.833 | 83801.665 |
| Fibonacci | 62622.153 | 65922.381 | 67961.265 | 71261.493 | 74561.721 | 76600.605 | 79900.833 |
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