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Bitcoin price drop to $37K has analysts wary of calling a ‘trend change’ Bitcoin price sold off below $37,000 shortly after topping $40,500, leading analysts to caution that bears still have a few tricks up their sleeves. 10866 Total views Market Update Bull market optimism returned to the cryptocurrency market on July 26 after Bitcoin (BTC) price rallied above the $40,000 level for the first time in over six weeks. Today's rally to $40,581 was a continuation of the July 25 breakout which saw BTC price rocket to $48,110 at Binance af a short squeeze resulted in nearly $50...

News Despite Bitcoin (BTC) crashing below $30,000 for the first time in one month, on-chain metrics suggest whales may be steadily accumulating BTC. According to Glassnode’s Monday “The Week On-Chain” report, the Bitcoin reserves of centralized exchanges have continued to evaporate despite the recently sustained bearish momentum, with an average of 36,000 Bitcoin (worth roughly $1 billion) being withdrawn from exchanges monthly. Glassnode infers the shrinking Bitcoin reserves on exchanges as indicating large investors moving BTC into secure storage rather than leaving their coins on...

Market Analysis After weeks of Bitcoin (BTC) sell-offs, high-net worth Bitcoin holders, or whales, are finally back to buying. Their buying activity not only picked up when BTC's price broke out of the two-months ascending triangle to new all-time highs, but it has also stayed intact since the price crash on April 18. Whales have come back to accumulate Bitcoin Whales' continuous buying activity comes at a time when the number of addresses holding more than 1,000 Bitcoin has reached its four-month support line. Bitcoin: Number of Addresses with balance >= 1,000. Source: Glassnode This is ...