Bitcoin (BTC) retains near $ 117,500, an increase of about 6.1 % over the past two weeks. However, modern data from Binance shows that the current basic procedure for BTC is largely supported by retailers, while whales were. Significantly.
Bitcoin has $ 117,500 amid high retail flows
According to A Cryptoquant Quicktake Post by the shareholder Arab series, Bitcoin hovers around the price level of $ 117,500, with support from active flows from retailers. It is worth noting that the large whale flows were completely absent, indicating that the current market is moved by more than large portfolios.
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The flows range from 0 to 0.001 BTC around 97000 BTC. Likewise, the total flows from the 0.001 sector to 0.01 BTC were approximately 719,000 BTC.
The above distribution indicates that the current assembly of Bitcoin is largely driven by retail investors. These investors make many small -sized transactions, confirming that individual investors form the market dynamics. The Arabic series added:
Numbers reveal that the largest part of the flows are concentrated in small and medium transactions, which reflects the dominance of retail activity in bitcoin trading. This liquidity, despite its limited scope, helped maintain the market balance at the current levels.
It should be noted that there was almost no whale pressure during the current market gathering. Specifically, no significant rise in the flows of more than 100 BTC has noticed, which reduces the possibility of price correction in the short term.
In conclusion, the current market situation shows that Bitcoin suffers from a balance, due to the growing retail investor. Such a scenario gives the market a chance to bounce steadily towards the important resistance level of $ 120,000.
However, it would be wise to monitor any whale activity, because it can quickly change the direction of the market. Any sudden entry of whale flows can lead to a rapid correction of prices, similar to the previous market peaks.
Experts divided into BTC price procedures
Since Bitcoin is trading about 5.4 % less than its highest levels (ATH), there are signs that the upper encrypted currency depends on the maximum market may be on the threshold of a new gathering. For example, BTC recently Break up The middle -time holder united the tie, which reduces the probability of the immediate sale process.
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Recent positive developments – such as the American Federal Reserve (Fed) can reduce interest rates by 25 basis points – stimulate the encryption market. Against that background, Arthur Hayz’s encrypted businessman repeat His ambition is $ 1 million prediction BTC.
However, the gold bug Peter Chef Opines It is more likely that BTC has already reached its peak for this market cycle. At the time of the press, BTC is trading at $ 117,523, an increase of 1.8 % in the past 24 hours.
A distinctive image of Unsplash, plans from Cryptoquant and TradingView.com
The post Bitcoin Holds $117,500 On Retail Support While Whales Stay Quiet first appeared on Investorempires.com.
