The price of bitcoins has been in an impressive form over the past few weeks, exceeding the psychological level of USD 90,000 over the past week. It seems that the most significant cryptocurrency is approaching the weekend with the same – if not more – the rush after exceeding $ 95,000 on Friday, April 25.
Who really stands behind the BTC rally?
In the novel post on platform X, the analyst in the Tech chain took up Deep diving In the last Bitcoin price rally, identifying running catalysts from around USD 74,000 to USD 95,000. According to cryptographic experts, the last blockchain data show that there has been a clear capital rotation in the last month.
This analysis concerns the activity of various classes of Bitcoin investors (based on time spent on holding coins). According to INTOTHEBLOCK, most of the activities do not surprise from traders (or tiny -term owners) who have increased the balance by almost 19% in the last 30 days.
Technology noted that these traders, faithful to the reactive character and directed by FOMO (fear of loss), aggressively buy BTC, because its price dropped to around 74,000 USD. At the same time, tiny -term traders did not take off their feet from the gas, and the price of Bitcoin currently danced above USD 95,000.
In addition, they seem that long -term owners have stopped shaving their shares in recent weeks, removing the “main pressure on general” at the price of bitcoins. According to INTOTHEBLOCK data, the balance of long -term BTC owners has increased by at least 0.3% in the last 30 days.
Source: @IT_Tech_PL on X
Finally, IT Tech emphasized the investor’s cohort called “cruisers”, and Bitcoin Holdings aged 1 to 12 months. Considering that their balance dropped by 4.4% last month, the analyst in the chain mentioned that these investors mature in “Hodlers” or derive profit.
Technology has stated that the price of bitcoins may contain a speculative phase of a stubborn, characterized by a significant tiny -term influx of capital and long -term stability. However, the analyst warned against the dominance of tiny -term hands.
Considering their reactive nature, highly unstable periods are historically correlated with the dominance of tiny -term owners. This means that in the future of the Bitcoin market there may be a high volatility. In any case, IT Tech believes that the price of Bitcoins has not yet reached the local top.
Bitcoin price at first glance
In this letter, Bitcoin is valued at around 95 210 USD, which reflects an enhance of 2% in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
Editorial process For a bitcoinist, she focuses on providing thoroughly examined, true and impartial content. We maintain strict acquisition standards, and each page undergoes a careful review of our team of the best technological experts and experienced editors. This process ensures the integrity, importance and value of our content for our readers.
