U.Today – Prominent crypto analyst Ali Martinez has observed a significant drop in whale activity since March 14, sparking speculation about its potential impact on the price of BTC. Martinez’s analysis, supported by accompanying charts, reveals a notable decline in transactions involving sums above $100,000, following Bitcoin’s surge to a new high of $73,750 per BTC.
Martinez’s chart data highlights that over the past 24 hours, transactions above $100,000 totaled 2,896, with those above $1 million totaling 521. Ahead of Bitcoin’s peak, whale activity showed a proportional increase, peaking at around 4,500 daily transactions valued at $1 million. or more, and approximately 24,500 transactions exceeding $100,000.
Source: Ali Martinez Martinez suggests that the lack of substantial whale activity could be contributing to Bitcoin’s recent price stagnation, as the cryptocurrency struggles to maintain momentum amid decreasing volatility. The analyst’s observations raise questions about the role of large investors in market dynamics, particularly in light of their reduced participation.
The decline in whale activity presents a divergence from previous trends, where increased trading volumes by major players often coincided with large price movements. Martinez’s assessment hints at the possibility of a resurgence in whale trading, serving as a catalyst for renewed bullish sentiment in the Bitcoin market.
As investors and crypto enthusiasts closely monitor Bitcoin’s movements, all eyes are now on whether the re-emergence of whale activity will indeed serve as a catalyst for a bullish trend in the bitcoin market. crypto.
This article was originally published on U.Today
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