Is the low price of prices?

Bitcoin’s possessions arrived Its lowest level in six years, Raising concerns about the course of the prices of the original amid current price conflicts. Interesting data from the IntothhebLock data analysis platform shows that the total amount of Bitcoin seats has decreased to the levels that were last seen in 2019.

The decline comes at a time when bitcoin is Struggle to keep the momentum More than 90,000 dollars, with most last week trading occur between $ 85,000 and 90,000 dollars.

Pisces decrease with Netflow decreased sharply

Bitcoin has been intense pressure for sale in the past two weeks or so, which in turn allowed its strong foot loss over 90,000 dollars. Intestly, INTOTHEBLOCK Latest data It indicates that the bitcoin Netflow among the senior pregnant women has achieved great success, as there were more external flows than the flows of these whale addresses. As the total number of BTC kept the whale headlines is now at its lowest level since 2019.

image From x: INTOTHEBLOCK

Intothheblock’s whale transactions are tracked with at least 0.1 % of the total bitcoin offer. Over the past seven days, the net whale flow has decreased by 85.78 %, and in the past 30 days, it has decreased by 70.22 %. A sharp decrease in the accumulation of whales often indicates a reduction in confidence between the main investors, which leads to fears of increased pressure pressure.

Image from InTothheblock

What does this mean for Bitcoin price amid market conflicts

At the time of this report, Bitcoin is trading at $ 86,115, which reflects a 0.5 % decrease over the past 24 hours and a slight decrease of 0.2 % during the past week. This relatively small movement indicates that Bitcoin has entered the stage of unification at this level, as it seems that the pressures of purchase and sale are almost balanced.

Over the past week, Bulls tried to pay Bitcoin above the resistance level of $ 90,000, Successful for a short period On multiple occasions. However, sellers I have repeatedly recovered Control and withdrawing the price is less than this threshold. The recently launched Crypto Reserve in adding a lot to the bullish momentum, as it seems that the encryption participants have appeared to be encouraged Reserve details.

This is the trend that was transferred in the amount of whale possession. If the whales continue to unload bitcoin instead of accumulation, supply dynamics may tend to a strong outbreak above 90,000 dollars. As such, there is a possibility of a deeper drop towards low support levels at $ 82,000 and $ 78,000 again in this new week.

In addition to these concerns, the encryption analyst Ali Martinez Refer development. As the analyst noted, there was an intersection between the moving averages for 50 days and 100 days on the timeline of the daily candlestick. This intersection has seen the 50 -day moving intermediate crossing without the moving average for 100 days, making it a cross with negative risks if Bitcoin fails to attract fresh purchase attention.

image From x: Ali Martinez

Distinctive image from Build in, the tradingvief chart