Whales Resume Shorting Bitcoin After $65,000 – BTC’s Next Moves Are Being Tracked
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- Bitcoin whales increased shorting as the price approached $70,000.The Bot Tracker indicator shows notable bot activity on both buy and sell sides.
- Bitcoin’s recent price trends
is continuously monitored by market participants as it remains the largest cryptocurrency, influencing overall market dynamics. [BTC] Recently, whales have ramped up their short positions as Bitcoin neared $70,000, raising concerns about potential corrections before additional upside momentum.
The Whale Position Sentiment indicator reveals a noticeable shift towards more bearish sentiment among whales engaging in exchanges. This sentiment change often correlates strongly with fluctuations in Bitcoin’s price movement.
caption-attachment-427218″”> Source: Alphractal.” “For BTC to maintain its bullish trend, it must stay above $65,000. Holding this level is critical for sustaining upward momentum.
Average leverage delta
Error during evaluation was encountered due to falling whale sentiment; Bitcoin’s average leverage delta has dropped below -5. A considerable amount of short leverage now occupies a market that once favored long positions.
Select whale position updates aside; current average leverage does not conclusively signal a bearish trend yet. Bitcoin continues trading above $64,000 with solid support from the 200x exponential moving average.
p>UTXO Realized Price Distribution p >
The UTXO Realized Price Distribution (URPD) stands out as an essential metric underpinning Bitcoin’s forecast. It illustrates that $65,000 is emerging as one of crucial support zones while encompassing previous resistance around $68,000. span > h2 >
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