As the cryptocurrency market approaches the end of the year, Bitcoin continues to trade in a fragile zone just above the $90,000 level.
Bitcoin Holds Above $90,000: Whales Continue Accumulating as Retail Sales Rise
The current market structure is becoming increasingly vulnerable due to increased selling pressure from retail investors, high outflows from ETFs, and the strengthening of bearish hedge positions.
Analysts emphasize the unbalanced flow of funds in the market. While short-term investors and some large Wall Street-based funds are seen selling, long-term investors, also known as “whales,” continue to quietly accumulate. This suggests two opposing trends in market psychology.
BRN Research Director notes that Bitcoin is at a “crossroads.” While large investors are steadily increasing their positions, retail investors and short-term buyers are being hit by sharp price declines.
While approximately 31,800 Bitcoins were reportedly transferred to exchanges at a loss recently, the number of wallets holding more than 1,000 BTC increased by 2.2 percent. This rate represents the highest growth rate in four months.
Analysts believe this divergence will play a crucial role in determining the market’s direction through the end of the year. Bitcoin’s ability to maintain the $90,000 support will depend on whether the selling pressure can be offset.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-holds-above-90000-as-retail-users-begin-to-gain-weight-in-sales-here-are-the-details/
