Whales began to sell their bitcoins

This week, Bitcoin confidently moves to $ 110,000. However, active sales from whales and long -term holders (LTH) are threatened to prevent the restoration of BTC prices.

We figure out what is happening in the Bitcoin market (BTC) and what to expect from the price of cryptocurrency.

Bitcoin Chita staged a sale

In recent days, whales owning from 1,000 to 10,000 BTC are actively selling their assets. In the last week they sold more than 40,000 BTC (about $ 4.3 billion). This behavior may be due to the fact that large investors doubt the stability of the coin rally.

These actions threaten to adversely affect the price of bitcoin, creating a bear pressure. In such conditions, cryptocurrency can not be difficult to maintain an upward impulse.

The metric of LiveLans, which tracks the frequency of bitcoin transactions, has increased sharply this week. This is a signal that long -term holders (LP) move their assets, preferring to sell, not accumulate.

This behavior LTH reflects the actions of whales. If both categories of investors continue to get rid of the BTC, this will enhance the volatility and make it difficult to restore.

Can BTC overcome $ 110,000

Over the past 24 hours, the BTC price has increased by 7% and reached $ 108 145. At the time of writing, the coin is trying to gain a foothold above the level of $ 108,000.

If Bitcoin fails to stay at the level of $ 108,000, then it will probably return to the nearest support at $ 105,622. A further decline can lower the price to $ 102,734.

If the institutional demand continues to grow and exceed the sale of large holders and long -term investors, Bitcoin will receive a chance to overcome the resistance by $ 109,476. A confident breakthrough of this level will open the path to $ 110,000, which will cancel the bear scenario and support the rising trend.

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