Bitcoin (BTC) whales in Vinanence appear to be reducing sales pressure, but the possibility of an increase in BTC sales from miners could bring new downward pressure to the market.
Cryptoquant Community Analyst DarkFost handles some of the largest bitcoin trading volumes according to Binance’s Whale activity Showing signs of decline.
Exchange whale ratio, a metric that tracks the percentage of top 10 influxes to total exchange influxes, is decreasing. An increase in this ratio’s value usually indicates increased activity from large holders, and often indicates an increase in sales pressure.
Meanwhile, the decline in the exchange whales’ ratio suggests that whales don’t sell that much Bitcoin.
If this pattern continues, it could indicate that recent market corrections are approaching its end. This metric previously served as a key indicator of potential trend reversals and is an important element of viewing in the current market environment.
Potential pressure from miners
Whale activity in Binance is slowing down, but Bitcoin miners could be a new source of sales pressure. Encrypted author Axel Adler Jr. It’s attracting attention Miners have experienced similar conditions as seen after the latest Bitcoin difficulty adjustments.
Miner’s surrender refers to the period during which miners are forced to sell Bitcoin to cover their operating costs. This usually occurs when profitability decreases due to rising costs or falling prices.
When miners offload their holdings, additional supplies could enter the market and counter reduced sales pressure from whales.
Historically, the surrender of miners has led to a major market movement. The extent to which miners sell in their current environment remains uncertain, but their activities become an important factor in determining Bitcoin’s short-term price trajectory.
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