Declining BTC whale ratio on Binance hints at market rebound
The cryptocurrency analyst Darkfost suggests that the recent downcoin tendency could approach its end, because the sales pressure of major holders on Binance seems to be securing.
In an article in March 12 on X, Darkfost highlighted a drop in the BTC whale ratio in Binance, which measures the share of the 10 higher entries compared to total entries. Strong whale sales activity is indicated by a high ratio, which frequently causes brief corrections.
However, the recent downward trend in this metric indicates that large holders reduce their sales orders, which is generally an indication of an imminent market resumption.
Bitcoin (BTC)) experienced a spectacular drop, lowering almost 30% of its summit of all time in January and diving at a four -month low of around $ 77,000 on March 11. The chain data indicate, however, that whale titles have increased.
Large holders have bought nearly 65,000 BTC in the last 30 days, according to a cryptocurrency on X. This implies that current prices can be considered as a favorable entry point by institutional investors.
The market has also been affected by other influences. The recent announcement of a strategic bitcoin reserve by the United States government seemed optimistic at the start. Later, however, it has become obvious that these assets would mainly come from seized assets rather than aggressive acquisitions.
This has increased the uncertainty of investors, just like record outings Bitcoin ETF and macroeconomic worries like possible rates. Traditional markets, especially Nasdaq, continue to have a strong influence on the price of bitcoin.
The co-founder of Bitmex, Arthur Hayes, offered his point of view on the market in March 11 job On X., he predicts that Bitcoin could complement around $ 70,000, a drop of 36% compared to its top of all time, before starting its next rally.
However, it maintains that a real recovery will require more than the dynamics of the cryptography market. According to Hayes, a slowdown on the stock market is part of a greater financial change that is necessary.
Currently, the continuous accumulation of large investors and the whale ratio indicate that the sales pressure is reduced. Bitcoin, which is trade At $ 83,234 at the time of the press, could be directed to recovery if this model is valid.
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