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Small traders are preventing the price of Bitcoin from rising

Analysts at the research company Santiment believe that the Bitcoin rate is not showing positive dynamics due to the sale of BTC by small traders.

Santiment experts emphasized that last week, when the price of Bitcoin exceeded $67,000, holders of wallets holding less than 0.1 BTC got rid of most of their assets.

Traders are selling BTC en masse, which has a negative impact on the price of the first cryptocurrency. At the same time, there is a reduction in the number of crypto wallets with a non-zero balance.

According to analysts, crypto whales are buying bitcoins owned by small traders, which is a signal of an upcoming bullish rally in the medium term. However, experts did not provide a forecast of how much the Bitcoin rate could rise in the next few months.

Earlier, analysts said that the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 technology index reached 0.46. This is the highest figure since the end of summer 2023.

Source: Cryptocurrency

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