Crypto analysis company Cryptoquant warned that a significant wave of volatility in the Bitcoin market may be experienced. According to the latest data, approximately 50 thousand BTC did not move within the last 6 to 12 months. This shows that large investors may be preparing to sell their assets.
Bitcoin faces sales pressure
Cryptoquant Analyst “XBTMANAGER” said that this movement could have serious effects on the price of BTC. Large amounts of Bitcoin transfers often lead to sales pressure in the market, causing sales pressure. Therefore, it is estimated that there may be a sudden decrease in the price of Bitcoin in the coming days.
Analyst also stressed that such large BTC movements may also be associated with price manipulation. It was pointed out that Bitcoin had a rapid recovery after rapid depreciation in similar situations. Therefore, each sales movement may not mean a permanent decrease.
Uncertainty in the market
The crypto money market has recently faced significant uncertainties and fluctuations. At the beginning of the week, BTC, despite the opening of 98 thousand dollars, a decrease of 7 percent to the level of 91 thousand dollars declined.
Altcoins were also seen harsh decreases. Many Altcoin suffered a depreciation of up to 20 percent, while the leverage of $ 2 billion in 24 hours was reported to be liquidated. These harsh decreases are triggered by US President Donald Trump’s plans to bring new tariffs to Canada, China and Mexico.
Critical Support Level for Bitcoin
Although the sales pressure in the crypto market is slightly alleviated, investors are still cautious. Analysts, BTC’nin 90 thousand to 91 thousand dollars should maintain the level, he says. If this support level is broken, the price is estimated to decline to the level of 70 thousand dollars.
In contrast, if the BTC price can hold on these support levels, it may also be possible to start upward movements. Especially if large investors are re -purchased at these levels, a new recovery process may begin in the market.
The direction of Bitcoin in the short term
During the writing, Bitcoin was traded at the level of 98 thousand dollars and has made a small increase of 0.61 percent in the last 24 hours. However, uncertainty still continues in the market. On-Chain data shows that large investors transfer BTC from their wallets to the stock market. This is interpreted as an important signal that a new wave of sales may be experienced in the market in the coming days.
On the other hand, if investors consider this sales wave as an opportunity to purchase, a rapid recovery may be experienced in the price of BTC. How the market will react in the coming days will be critical for Bitcoin’s short -term movements.
