Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Bitcoin (BTC) Whales Cut Back on Holdings: Why It’s Not a Red Flag

Source Beincrypto

Bitcoin’s (BTC) large holders have gradually reduced their coin holdings since the cryptocurrency reached a new high in March. While this may seem like a bearish signal, there’s no need for concern.

These major stakeholders are simply waiting strategically as the leading coin navigates ongoing volatility.

Bitcoin Large Holders Bide Their Time

In a September 11 post on X, blockchain analytics platform Santiment wrote that there has been a “noticeable drop-off” in crypto whale transactions since mid-August. The on-chain data provider noted a 33.6% decline in weekly BTC whale transactions valued above $100,000 since the coin surged to a new high in March.

For context, weekly transactions of $100,000 or more involving Bitcoin totaled 88,163 when the coin climbed to its new high in March. As its price dropped, the whales reduced their trading activity. By mid-August, this had declined to 58,539 Bitcoin whale transactions weekly.

Read more: 5 Best Platforms To Buy Bitcoin Mining Stocks After 2024 Halving

Crypto Whale Transactions. Source: X

While this may come off to many as a bearish signal, the data provider noted that it may not be the case, as Bitcoin whales can be just as active in both bull and bear markets.

“This does indicate that large key stakeholders continue to bide their time as they wait to make their next moves during times of extreme crowd greed or extreme fear,” Santiment wrote.

As of this writing, the overall sentiment in the cryptocurrency market is “fear,” as highlighted by the Crypto Fear & Greed Index. This sentiment continues to linger as BTC navigates ongoing volatility, which some analysts argue would be temporary.

“Bitcoin CPI traders having a lot of fun again today I see. Both sides stop hunted multiple times. Quite a lot of volatility but nothing we’re not used to the past few weeks,” a prominent analyst Daan Crypto wrote.

BTC Price Prediction: Price May Swing in Either Direction

BeinCrypto’s analysis of Bitcoin’s one-day chart aligns with Daan Crypto Trades’ perspective on its volatility. The gap between the upper and lower bands of Bitcoin’s Bollinger Bands, which track market volatility, has expanded gradually over the past week.

The upper band marks the higher range of price movements, while the lower band follows the lower range. A widening gap between these bands indicates rising volatility.

Additionally, Bitcoin’s Bollinger Bandwidth, which helps traders assess market volatility and spot breakout opportunities, has also increased in recent days. A higher bandwidth further confirms elevated volatility.

Read more: Where To Trade Bitcoin Futures: A Comprehensive Guide

btc bollinger bands and price prediction

Bitcoin Daily Analysis. Source: TradingView

This suggests Bitcoin’s price could move sharply in either direction. If the price rises, it may break resistance at $61,391 and aim for $64,295.

Conversely, if the price falls, Bitcoin could drop below $54,353, possibly revisiting the August 5 low of $49,086.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Sep 15, Tue

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

22 hours ago

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

22 hours ago

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Author Irene Q.

4 hours ago

The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Popular Symbols