Bitcoin FOMO rally ahead of its mining reward halving could fizzle, warns a top analyst.
The cryptocurrency has more than 21 percent to log its best week since June 2019.
But whales think that the uptrend has come on the backs of poor liquidity that raises the possibility of a sharp pullback.
It is Thursday and bitcoin already surged by more than 21 percent into the week. But whales believe the ongoing bull run is fake.
A prominent trader, who is sitting atop a $20 million monthly loss from his anti-rally bitcoin positions, expressed his conviction over potential bull exhaustion.
He called bitcoin’s upside run as an “organized FOMO rally,” wherein big players are manipulating small traders to enter the market using the “halving” narrative.
“The weekly Bitcoin chart is the definition of an illiquid altcoin,” the whale retweeted ZeroHedge’s Tyler Durden this Thursday. “Hilarious cycle it’s been through. My hope is that the halving will financially destroy as many Chinese miners as possible and we can actually have a legitimate bull market instead of this pump and dump movie.”
Source: Joe007
Liquidity Crunch
The next Bitcoin Halving event on May 12, 2020 will slash the cryptocurrency’s mining reward by half – from 12.5 BTC to 6.25 BTC.
Traders anticipate that the newfound scarcity would somewhat make bitcoin more valuable in the future, with a popular price prediction model even giving a $100,000 price target by 2021.
The sentiment saw bitcoin price recovering wholly from its 2020 bottom at $3,858. As the price closes towards $9,500 in the Thursday trading session, traders are optimistic about an extended upside momentum above $10,000 ahead of the halving.
But the supply-slashing event brings short-term risks to the very community that relentlessly produces bitcoin. Miners risks going out of business as their dollar-based mining rewards gets cut by half. So to cover their operational costs, they would need to sell their newly minted cryptocurrency stash for higher rates.
The buying pressure then shifts to the spot market. Traders and investors are face-to-face with an economic crisis brought forth by the fast-spreading COVID19 pandemic.
Under these times, asset managers, hedge funds, family offices, and even average Joes prefer to exit volatile assets to hold cash and mitigate potential losses.
That’s called a liquidity crunch. The historical sell-off in Bitcoin and the U.S. benchmark S&P 500 in mid-March happened for the very same reason. Later, the central banks intervened with expensive stimulus programs, bringing the much-needed liquidity into the risk-on markets. As usual, bitcoin benefitted.
USDT Pumping Bitcoin?
The global economic crisis is far from over. S0, the answer to whether or not traders and investors would remain exposed to risk-on assets amidst the Coronavirus pandemic could help give a clear direction to bitcoin.
But, according to the whale, nobody is discussing the questions about the bitcoin market’s low liquidity. He even went ahead to say that Tether’s stablecoin USDT artificially inflated the price of bitcoin to lure into the halving narrative.
Source: Joe007
But the whale believes that bitcoin’s long-term move remains to the upside, driven by organic demand from both institutional and retail players. The crisis needs to come to halt to help economies reopen, thus creating value, and prompting large and small investors to allocate part of their incomes to buy bitcoin.
Photo by Abigail Lynn on Unsplash origin »
On-chain data shows the recent bearish Bitcoin price action has put the network’s short-term holder whales into a significant unrealized loss. New Bitcoin Whales Have Dived Underwater In a new post on X, on-chain analytics firm CryptoQuant has discussed about the latest trend in the profit-loss situation of the short-term holder Bitcoin whales.
Key takeaways
Bitcoin’s recent dip triggered panic selling from mid-term holders, but whales and sharks are buying aggressively. This shows long-term confidence, even as short-term momentum cools.
Key takeaways
Retail investors are selling into Bitcoin’s rally, with $16 billion in inflows to Binance indicating widespread profit-taking. Meanwhile, whales have quietly accumulated over $600 milThe post Decoding Bitcoin's rising divide - Retail sells, whales buy $600M in BTC appeared first on AMBCrypto.
On-chain data shows the Bitcoin short-term holder whales have been taking significantly more profits than the diamond hands in this rally. New Bitcoin Whales Are Participating In Notable Profit-Taking In a new post on X, CryptoQuant author Axel Adler Jr.
Whales have started buying more Bitcoin, spending tens of millions on acquisitions over the past few months.
Market sentiment shows these whales might be holding the asset for the long term.
With whales inactive and technicals flashing mixed signals, Bitcoin hovers near critical levels that could define April’s next major move.
The post Bitcoin (BTC) Stalls Above $80,000 as Whales Stay on the Sidelines appeared first on BeInCrypto.
The amount invested by new Bitcoin (BTC) whales is up 13x this year to nearly $108 billion on Oct. 6, according to CryptoQuant data. The investment made by new whales represents 48. 8% of Bitcoin’s total realized cap, almost reaching the $113 billion paid by “old whales.
Crypto whales accumulated 5,900 BTC worth $397 million from CEXs amid the price drop.
BTC’s trading volume surged by 65%, signaling higher participation from traders and investors.
On 29thThe post Bitcoin slides below $66k: Here's what whales are up to appeared first on AMBCrypto.
Bitcoin seems to be hitting an air pocket. Over the past two weeks, whales have been shedding their digital assets in large amounts. This exodus, totaling over $1. 2 billion according to CryptoQuant, has been a cause for concern for many landlocked investor.
Recent analytical insights from FireCharts 2. 0 are indicating significant maneuvers by major stakeholders of Bitcoin—often referred to as “whales”—which are impacting the cryptocurrency’s price movements.
Bitcoin is rising, recently breaking above $67,000, and heading towards the all-important $70,000, a psychological round number. One analyst took to X amid this uptick, noting that whales holding over 1,000 BTC are not moving their coins to exchanges.
On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 200,000 BTC every week. Short-Term Holder Bitcoin Whales Have Continued To Accumulate Recently As explained by CryptoQuant author Axel Adler Jr in a post on X, the demand among the short-term holder whales has decreased since the all-time high, although it still continues to remain strong.
Whales have accumulated over 22,000 BTCs in the past week.
BTC was trading at around 42,400, with a slight recovery.
Bitcoin [BTC] whales have responded with a mixed sentiment to the recenThe post Bitcoin whales continue to accumulate despite price declines - Why? appeared first on AMBCrypto.
Bitcoin whales have begun to sell their holdings.
The coin’s price has become less volatile in the past two weeks.
In a significant shift in market sentiment, Bitcoin [BTC] whales have iniThe post Bitcoin whales unload over $2 bln in BTC - Why? appeared first on AMBCrypto.
In the dynamic world of cryptocurrencies, Bitcoin has long reigned supreme. However even its most substantial holders, known colloquially as Bitcoin Whales, are seeking fresh prospects. Among new frontiers, Galaxy Fox ($GFOX) is emerging as a beacon, capturing whales’ interest with its innovative approach and growing confidence among investors, in particular those interested in the […]
The post Bitcoin Whales Pivot to Galaxy Fox (GFOX) Amid Growing Confidence appeared first on CaptainAltcoin.
The Bitcoin Minetrix ($BTCMTX) presale continues to fly as the project raises $2. 7 million in its first month, demonstrating the building hype for the Stake-to-Mine ecosystem. Whales are positioning themselves as early as possible, evidenced by the speedy rise to $2.
Bitcoin price rose sharply on Tuesday, reaching highs of $28k after news of Grayscale’s win against the SEC. Santiment has shared data showing whales and sharks scooped over $388 million in BTC ahead of the news.
Nearly 10 addresses were added to the whale cohort in the last two weeks.
Exchange Whale Ratio was on the lower side, suggesting less outflows from whales.
Despite an underwhelming price perThe post Bitcoin whales are on the move - Here's why that could be important appeared first on AMBCrypto.
BTC's whales have decreased their holdings gradually since April.
Despite the decline in whale accumulation, the coin remains a profitable asset.
As Bitcoin’s [BTC] price continues to faceThe post Bitcoin: Sharks show appetite while whales remain cautious as... appeared first on AMBCrypto.
On-chain data shows signs that the Bitcoin whales have been selling as the cryptocurrency has observed a surge above the $31,000 level. The Number Of Bitcoin Whales On The Network Has Dropped Recently According to data from the on-chain analytics firm Santiment, while the whales have been selling, the smaller entities have been accumulating. The […]
On-chain data shows that Bitcoin whales have continued to accumulate recently as the asset has been trying to make a push toward recovery. Bitcoin Whales Have Continued To Add To Their Holdings Recently According to data from the on-chain analytics firm Santiment, the whales have bought around $3.
- Bitcoin whales began to accumulate after a period of distribution.
- Short positions taken against BTC started to rise, despite bullish behavior showcased by retail investors.
At the time whenThe post Are Bitcoin whales starting to experience FOMO? This new data suggests... appeared first on AMBCrypto.
On-chain data shows Bitcoin whales have continued to shave off their holdings in recent weeks, suggesting that the current lows may not be attractive enough to them. Bitcoin Whales Continue To Sell Despite The Recent Deep Lows As pointed out by an analyst in a CryptoQuant post, the number of investors with balances in the 1k to 10k BTC range have continued to decline recently.
In spite of persistent price decline, Bitcoin whales continue to accumulate.
However, on-chain data suggested that most might be accumulating to short the king coin
Currently trading at a twThe post Bitcoin [BTC] short-traders ravage the market as whales intensify accumulation appeared first on AMBCrypto.
Retail investors owning less than 1 BTC are accumulating Bitcoin while whales holding over 10,000 BTC are selling, according to data analyzed by CryptoSlate.
The post Research: Retail begins accumulating Bitcoin while whales continue to sell appeared first on CryptoSlate.
On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump. Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now As pointed out by an analyst in a CryptoQuant post, whales may be ramping up dumping, a sign that could be bearish for the price of BTC.
Bitcoin whales continue to rely on the “buy the dip” strategy to increase their long-term positions. After the BTC price plunged to $34,700 following Russia’s invasion of Ukraine, whales made massive purchases.
Key takeaways The recent stellar bitcoin bull run has been tracking PlanB’s S2F model. There is some bearish metric though as data from Glassnode indicates that Bitcoin whales are declining. However, smaller whales are increasing even as data indicates that sell pressure is low.
Whales have not stopped accumulating bitcoin. Current trend patterns suggest that bitcoin whales who hold between 100 to 1,000 BTC remain very bullish on the digital asset’s prospects. The slow month of September had seen the asset suffer dips and crashes which brought the price down to the $40K trading range.
Data shows that while number of Bitcoin whales is going down, the remaining ones keep on accumulating more during dips. The Remaining Bitcoin Whales Show Diamond Hands As They Buy More Dips As per the latest Arcane Research report, BTC whales continue to accumulate despite the total number of them going down over the past […]
Bitcoin is an asset for everyone, but that doesn’t mean whales don’t often swallow up as many coins as they can, with the intent of sometimes spitting them back out and causing a major wave across the market.
Bitcoin price is now trading at roughly 15% less than it was just days ago, falling short of setting a new all-time high by just a few hundred dollars. A new record was so close bulls could taste the victory, but the achievement was blocked by massive whales who reloaded centralized crypto exchanges with a […]
Bitcoin’s famously noted four-year cycle, previously tied to its halving occurrences, could be losing prime market driver status, according to some top experts. For decades, the halving—a built-in reduction of miner compensation every four years—had been preceded by sharp spikes and precipitous drops in price.
Bitcoin Magazine Pro’s Bitcoin Cycle Master tool rates Bitcoin’s current price of $63,500 as fair market value, signaling potential growth based on historical trends and on-chain metrics.
Amid Middle East tensions, Bitcoin's value drops by 6%, underperforming as a safe-haven asset compared to gold and the US Dollar's rally.
The post Bitcoin fails to draw safe haven flows amid Middle East crisis: Kaiko appeared first on Crypto Briefing.
Glassnode advises Bitcoin investors to moderate their expectations for the upcoming halving, citing historical data and diminishing returns.
The post Bitcoin investors to moderate price expectations post-halving: Glassnode appeared first on Crypto Briefing.
The SEC's approval of Bitcoin ETFs has transformed the market, with inflows supporting prices and altering post-halving dynamics.
The post Bitcoin on-chain metrics are “decidedly positive” after the halving, highlights Bitfinex report appeared first on Crypto Briefing.
