Santiment: “Whales” were bought on the fall of BTC

13

Get real time updates directly on you device, subscribe now.

Bitcoin has stagnated since the second half of April, and only today support has returned.

On Thursday evening, May 6, the BTC rate rose to $ 57,500. The capitalization of the largest digital currency now exceeds $ 1.08 trillion.

Researchers from the Santiment team drew attention to the next activation of large investors or the so-called “whales”. Such players always try to buy when BTC falls or is trading in a narrow range. This is exactly the situation we have observed since the very beginning of May, the report says.

Analysts stressed that on May 3, there was the largest increase in the number of “whale” addresses containing at least a thousand bitcoins. The last time a similar surge in activity was observed at the end of March.

Currently, there are 2,234 wallets in the network, under the control of which are 1000 or more BTC. During the day, the number of large addresses increased by another 7, the researchers found.

The WhaleMap team analyzing the behavior of large bitcoin holders, stated that even if we re-enter the red zone, support should increase around $ 52,763. At this price, the whales acquired about 45,000 BTC. Accordingly, a more significant pullback is unlikely, otherwise major players risk being in the red.

However, a new leap forward, most likely, will not take place. Anxious sentiments are increasing in the derivatives market. Institutional investors are guided by a decrease in the BTC rate to $ 50,000 -52,000 by mid-May, experts say.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.