Bitcoin height in the short term is still red despite the accumulation of the new whale ⋆ Zycrypto

The digital asset market has shown a recovery mark in the past seven days, although the opposite winds still limit the recovery. The last shrinkage was disrupted in encryption prices and left remaining effects on new holders. At the time of writing this report, Bitcoin price has increased by 2.7 % in the past seven days to 87,526 dollars. Despite trading without a sign of $ 100,000, previous data may prefer a transformation with the accumulation of whales.

STH is 4 % inconsistent losses

A new report from Cryptoquant shows that the highest short -term level is still negative after the decline in encryption prices. The price of short -term holders is now 90,800 dollars, a decrease of 4 % compared to the market value to the percentage of the achieved value.

This year, the Bitcoin price was placed from the highest level ever above 108 thousand dollars to the current levels. This loss has affected the value on relatively new holders, which weakens the broader feelings. The bulls will face more resistance if the current factors continue due to the pressure of the sale. This period is classified with flows to central exchanges and reduced external flow in mining workers reserves to hedge against losses.

“(Short -term holders) continues to face unrealistic losses of about 4 %, which means that the STH MVRV ratio is currently at 0.96. The percentage of MVRV (the market value to the achieved value) is an indicator that compares the total market value with the achieved capital. The verified capital is the average purchase price, in which case, specifically indicates the Sth (a currency preserved <155D). "

Since the last stage of the bull, a short -term profit rate has failed 42 %, which led to a slight correction after that. While this bear stage has consequences for the strength of the market, it can be bounce in the cards. This usually occurs when unreasonable losses fluctuate between 9 % and 17 %.

The whales target the recovery 95 thousand dollars

after Bitcoin price decreased Less than 80 thousand dollars, whales moved to a decline. Although the institutional feelings remained low, the new movements sparked upward trend. Last week, the founding investors reflected five weeks of losses, Record flows of more than $ 700 million. The new Glassnode data shows that bitcoin whales have accumulated $ 11 billion in the last 14 days.

Also, the purchase of 129000 BTC has increased in the market after months Low activity. However, analysts depend that a $ 95,000 goal can continue with macro tensions that are almost eliminated along with whale purchases. Altcoin’s bulls also jumped the chance of getting assets before recovery.