Bitcoin Whales Slow Selling Rate Amid Market Changes
- Whale Selling Behavior Shift: According to CryptoQuant's analysis, early Bitcoin whales have significantly slowed their selling rate, particularly with on-chain activity from wallets inactive for over five years dropping sharply, indicating a shift towards holding rather than selling.
- Market Cycle Selling Window: Despite the current market cycle presenting an almost 'perfect' selling window for early whales, especially with large institutional funds and state-level buyers entering the market, the selling behavior of whales at Bitcoin's cyclical peaks has steadily decreased, reflecting a change in market sentiment.
- Short-Term Trading Output Indicators: The STXO indicators reveal that the peak STXO value over the past 90 days was around 2,300 BTC, but this figure has rapidly declined to around 1,000 BTC, indicating a significant slowdown in the selling pace of early-stage whales, which could impact market liquidity.
- Market Trend Analysis: Analyst Darkfost noted that despite strong selling opportunities, early whales are showing an increased willingness to hold, which may have profound implications for Bitcoin's price trajectory, particularly amid growing market uncertainties.
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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 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 | 43056.007 | 51528.003 | 60027.527 | 68499.523 | 76999.047 | 85471.043 | 93970.567 |
| Fibonacci | 51528.003 | 58011.124 | 62016.403 | 68499.523 | 74982.644 | 78987.923 | 85471.043 |
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