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BTCUSD Bitcoin

63,361.73

195.25 (0.31%)

06:17:43 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,244,494,556,142	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	195.25	0.31%	63,361.73	63,361.73	63,361.74

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,968.29	62,845.74	63,228.48	63,166.48	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:17:43	0.000765	63,361.73	USD

Price x Volume	Volume	Base Symbol	Related Pairs
177,018,866.76	2,789.98	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Under Pressure But Whales Hold Over $331 Billion Of BTC: A Sign To Buy?

26/04/2024 10:00pm

NEWSBTC

While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells a different story. Taking to X, one analyst notes that whales, which are large crypto holders, are actively accumulating the world’s largest coin by market cap. Bitcoin Whales Accumulating Despite Weakness By the time this data was shared, Bitcoin whales held over 5.1 million BTC worth a staggering $331 billion. That there is still demand when the coin moves in a narrow range flies in the face of recent market weakness and skeptics betting on even more price dumps. Related Reading: After WIF, BONK, BODEN: Top Crypto Trader Now Buys These 2 Memecoins Currently, Bitcoin is inside a range, with caps at $73,800 and $60,000. Despite overall market confidence, the coin has failed to pull higher, breaking above $70,000 even after Halving on April 20. Even though prices are firm, the absence of follow-through after April 21 and 22 hints at weakness. From the BTCUSDT price chart, the coin could explode should it break above the middle BB. If the leg up is accompanied by positive fundamental events, momentum could push the coin to all-time highs. On the flip side, BTC is likely to slip even lower should sellers flow back. The sharp rejection of bulls on April 24 is bearish. As such, this might set a wave of lower lows in motion, taking the coin below April 2023 lows. Traders Panicked Sold, Register Huge Losses Parallel market data shows panic sellers on Binance and OKX, two major crypto exchanges by trading volumes, have dumped a combined 5,137 BTC at a loss over the past two weeks. As data shows, prices have been weaving lower during this time, with bulls failing to counter the dump, especially after two consecutive losses on April 12 and 13. Related Reading: DOGE Price Prediction – Dogecoin Below $0.14 Could Spark Larger Degree Drop Meanwhile, there have been sharp outflows from ARKB, the spot Bitcoin exchange-traded fund (ETF). Data shows that ARKB sold 490 BTC, worth $31 million, on April 25. This is the third-largest single-day outflow in history. Recent price pressures on BTC coincide with a marked drop in spot ETF inflows in the second half of April. On April 25, Lookonchain data revealed that GBTC and all the nine spot ETF issuers decreased over 2,100 BTC worth roughly $135 million. Feature image from Shutterstock, chart from TradingView

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