Skip to main content

Bitcoin whales are responsible for BTC/USD

Bitcoin whales are responsible for BTC/USD sell-off below $10,000, will they push it back?


(BTC) crashed below $10,000 during early Asian hours and failed to recover above the critical level so far. At the time of writing, BTC/USD is changing hands at $9,835, down 2.65% in recent 24 hours. The first digital coin hit a brick wall on approach to $10,200 and dropped under the pivotal area in a matter of hours. 

Whales woke up and stirred the market

A Twitter service Whale Alert (@whale_alert) has been busy posting data on large transactions. As large investors, also known as whales, play a crucial role in shaping trends and sentiments on the market, the information about they activity may shed some light on what to expect. 
Thus, today someone transferred 15,000 BTC (about $149,508,150) from one wallet to another a few minutes before the price crash. Usually, transactions from and to unknown wallets do not affect the price, but, considering the timing, this might have impacted the trend. 
However the sell-off may turn out to be short-lived as whales continue moving their coins to and fro the whole day.
Recently, Whale Alert reported that 25,000,000 USDT (24,946,788 USD) had been transferred from Tether Treasury to Bitfinex. According to Bitfinex CTO Paolo Ardonio, the transaction is related to Omni to Tron chain swap. It means that no new coins were added to the circulating supply.

BTC/USD: technical picture is full of uncertainty

On the intraday charts, BTC/USD dropped below SMA100  1-hour, which now serves as an initial resistance at $9,880. Once it is out of the way, the upside is likely to gain traction with the next focus on critical $10,000 reinforced by SMA50 1-hour. This psychological barrier needs to be taken out as soon as possible to improve the short-term technical picture. The next resistance comes at $10,200.
On the downside, a sustainable move below the intraday low of $9,744 will open up the way to $9,600. This level served as a strong resistance during the previous week. Now it is protected by SMA200 1-hour. 

BTC/USD 1-hour


2013
Location: Iași, Romania

Comments

Post a Comment

Contact us

Name

Email *

Message *

Popular posts from this blog

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry.  The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling.  Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...
Post a Comment
Read more

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

  Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move  does not seem to be going over well  with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a  FAQ provided by Coinbase , for Canadian users, ...
Post a Comment
Read more

Farm GRASS earn MONEY

  Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets.  One such groundbreaking avenue involves earning money by selling your unused internet connection.  By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks.  It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen.  The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...
Post a Comment
Read more