According to analysts, whales began to increase their positions in April, after the Bitcoin exchange rate fell to $ 75,000. The current transformation of investors strategy indicates the desire of the industry participants to record a profit near the historical maximum.
“The Bitcoin market has reached a certain intensity. But he still has opportunities for further growth before an unrealized profit of investors surpasses an extreme level, ”the review said.
According to experts, now the rates of cryptocurrency sales have not reached the maximum. Since April, the volume of open interest in Bitcoin futures increased by 51%, reaching $ 55.6 billion against $ 36.8 billion earlier.
These data reflect the expansion of the investors base that use derivatives, which indicates an increase in confidence in the prospects of the Bitcoin market, analysts say.
According to experts, if new BTC growth catalysts are not formed, it is likely that the first cryptocurrency course may drop below $ 100,000.
Earlier, Blockstream, General Director of Adam Back in the Unchained podcast, said that the Bitcoin market retains volatility after so many years due to the rapid increase in the price of the asset.
Source: Bits
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