Bitcoin
Bitcoin whales disappear
Gamza Khanzadaev
Bitcoin Market Sees Significant Slowdown as Crypto Analyst Ali Martinez Highlights Disappearance of Large Whale Activity
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Prominent Crypto Analyst Ali Martinez observed a significant decline in Bitcoin whale activity since March 14, sparking speculation about its potential impact on BTC Price. Martinez’s analysis, supported by the accompanying graphs, reveals a notable drop in transactions involving sums exceeding US$100,000, following Bitcoin’s rise to a new high of US$73,750 per year. Bitcoin.
Data from Martinez’s charts highlights that in the last 24 hours, transactions over $100,000 totaled 2,896, with those exceeding $1 million totaling 521. Before Bitcoin’s peak, whale activity exhibited a commensurate increase, reaching around 4,500 daily transactions valued at one million dollars. or more, and approximately 24,500 transactions greater than $100,000.
Source: Ali Martinez
Martinez suggests that the absence of substantial whale activity may be contributing to the recent stagnation in Bitcoin prices, as the cryptocurrency struggles to maintain momentum amid decreasing volatility. The analyst’s observations raise questions about the role of large investors in driving market dynamics, especially in light of their reduced participation.
The decline in whale activity presents a divergence from previous patterns, where increased trading volumes by major players often coincided with significant price movements. Martinez’s assessment suggests the possibility of a resurgence in whale trading, serving as a catalyst for renewed bullish sentiment in the Bitcoin Marketplace.
As investors and crypto enthusiasts closely follow Bitcoin’s movements, all eyes are now on whether the resurgence in whale activity will indeed serve as a catalyst for an uptrend in the crypto market.
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated in finance and credit with a specialization in securities and financial derivatives. He also completed a master’s program in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.