Will the Uncertainty Around Bitcoin Whales Compell the BTC Price to Drop Below $15000?

Published by
Sahana Vibhute

Bitcoin price continues to chop around $19,000 as the assert failed to attract liquidity from the strong hands over the weekend. The asset held firm above the crucial support levels at $18,400, indicating some strength remaining within the bulls. Although the bulls may make it in the coming days, the whales appear to have diverted their focus from the BTC price as a result of an extended consolidation & diminished volatility. 

The BTC price is currently trading around $18,700, experiencing significant upward pressure from the bears. Mainly the extended consolidation below $25,000 for more than 3 months could have compelled them to shed their holdings. As per the data from santiment , the whalestats  have been letting out their holding for the past 11 months.

The addresses holding 100 to 10K BTC have dropped accumulating dragging the percentage to a 29-month low. These addresses presently hold nearly 45.72% of the supply which is the lowest since April 2020. Therefore, Bitcoin’s key whale addresses holding their lowest amount signifies the prevailing fear due to the raising inflation or recession, etc.

Technicals suggest the price to remain flat for a longer time as the bulls & bears continue to fight for their dominance. Moreover, the MACD line & signal line have crossed each other multiple times, yet failed to flash a firm buy or sell signal. Until & unless the market conditions do not improve, the Bitcoin (BTC) price may remain consolidated within narrow ranges, below $20,000.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

Bitcoin (BTC) Price To Fall Further In December, Claims Top Analyst

Bitcoin price has endured a choppy 2022, with market strategists struggling to point out the…

December 2, 2022

Will Ripple’s Possession of XRP Tokens Create a Problem in the Ongoing Case?

With the issuing of a Summary Judgment, the long Ripple vs SEC case which had…

December 2, 2022

Top 3 Altcoins For December 2022:-BNB, MATIC, LINK Price to Explode Very Soon!

After the fresh price slash, Bitcoin's price appears to be quite uncertain as it is…

December 2, 2022

Oryen Network Leads Staking Revolution With 250% Price Increase With Many Aptos, Tron And Cosmos Holders Investing

Oryen (ORY) breaks new ground by offering investors a stable APY, unlike Aptos, Tron, and…

December 2, 2022

Fantom (FTM) Price Ignites a Giant Move, Poised for a 50% Upswing to Reach $0.5 in the Next 2 Weeks!

The crypto space had undergone a significant upswing in the past couple of weeks as…

December 2, 2022

Rasta Beach Club – The Free Mint NFT Collection Expected To Light Up The Ethereum Blockchain

Rasta Beach Club is a generative NFT Art collection. The bright & vibrant collection combines…

December 2, 2022