Bitcoin prices have been impressive over the last few weeks, raising psychological $ 90,000 last week. Premier Cryptocurrency is not the same for $ 95,000 on Friday, April 25, but seems to be coming on the weekend.
Who is actually behind the BTC rally?
In the new post on the X platform, on-chain analyst it Tech recently fell in love with Bitcoin Price Rally and identified the catalyst from about $ 74,000 to $ 95,000. According to Crypto Pundit, according to recent blockchain data, capital has been clearly rotated last month.
This analysis focuses on the activities of various types of bitcoin investors (based on the time of coins). According to INTOTHEBLOCK’s data, most of the activities have come from merchants (or short -term holders) who have increased their balance of almost 19%in the last 30 days.
This technology pointed out that these merchants are actively purchasing BTCs led by the FOMO (fear of missing). At the same time, short -term traders did not take their feet from the gas at a bitcoin price that danced more than $ 95,000.
In addition, long -term holders have stopped the “major overhead pressure” for Bitcoin prices by stopping what they have in recent weeks. According to Intotheblock’s data, the balance of long -term BTC holders has increased at least 0.3% over the last 30 days.
Source: @IT_Tech_PL on X
Finally, it Tech emphasized the investor cohort called “Cruisers” between one and 12 months by Bitcoin Holdings. Considering that their balance decreased by 4.4% in the last month, all chain analysts mentioned that the investors are mature or profitable as “hogler.”
IT TECH has concluded that bitcoin prices can enter the speculative stage, characterized by significant short -term capital inflow and long -term stability. But the analyst warned of the rule of short -term hands.
Considering their reactivity characteristics, the high volatile period is historically associated with the control of short -term holders. This means that volatility may be high in the future of the bitcoin market. Anyway, IT TECH believes that the price of bitcoin is not yet reached in the locals.
Bitcoin price at a glance
At the time of this article, Bitcoin has increased by 2% over the last 24 hours, to about $ 95,210.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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