Bitcoin whale transactions see ‘noticeable’ drop since March price peak

September 12, 2024 Coin Telegraph

Blockchain analytics firm Santiment says a decline in Bitcoin whale activity is not necessarily a bearish sign.

Bitcoin whales have dialed back their activity since the cryptocurrency hit a new high in March and are now biding their time for the next major buying or selling opportunity, recent data suggests.

“Cryptocurrency’s whale transactions have seen a noticeable drop-off since mid-August,” blockchain analytics platform Santiment wrote in a Sept. 11 X post.

Santiment noted that Bitcoin (BTC) weekly transactions of $100,000 or more had dropped 33.6% since March 13 — the day of Bitcoin’s $73,679 all-time high.

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Bitcoin traders brush off September blues, say closing price may ‘surprise the bears’

September 6, 2024 Coin Telegraph

Coin Telegraph

Tyr Capital’s chief investment officer thinks Bitcoin is more likely to finish September above $60,000 than below.

Some Bitcoin traders seem to be brushing off concerns about the usual September dump, even though history suggests otherwise, and the macro environment could be a strong enough factor to challenge the ongoing narrative.

“Although September is historically a negative month for BTC, the combination of a Fed [United States Federal Reserve] rate cut and a relatively robust US economy could surprise the bears,” Tyr Capital chief investment officer Ed Hindi told Cointelegraph.

“We believe the chances of BTC settling above $60,000 to be higher than the chances of it settling below it,” Hindi added.

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US Fed rate cut could push Bitcoin down 20% — Analysts

September 4, 2024 Coin Telegraph

bitfinex

Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market.

A long-awaited United States Federal Reserve interest rate cut could push the price of Bitcoin down — the opposite direction of many market participants’ expectations — and possibly cause it to dive to levels not seen since February, analysts say.

“If we were to speculate, we would caution to expect a 15-20 percent decline when rates are cut this month, with a bottom of $40-50k for BTC,” Bitfinex analysts wrote in a Sept. 2 note.

Bitfinex’s analysts backed up their claims by reiterating that September has historically been a “volatile month” for Bitcoin (BTC), and the anticipated Fed rate cut only adds another “layer of complexity, potentially exacerbating the market’s volatility.”

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Bitcoin in 42-day ‘boredom zone’ — traders debate next move

May 30, 2024 Coin Telegraph

Coin Telegraph

Bitcoin’s price has sat in the "boredom zone" for over a month, leaving traders guessing about a potential surge or retracement.

Bitcoin (BTC) has now spent 42 days in the “boredom zone,” and crypto traders are divided over whether it is consolidating for another surge or facing a 20% pullback toward crucial support levels.

“We have now spent 42 days in the low volatility and boredom zone,” pseudonymous crypto trader CryptoCon declared in a May 30 X post, explaining a lack of volatility in Bitcoin’s price is the main sign of “boredom in the market.”

Bitcoin is currently trading at $67,680, just 6.7% higher than its price 42 days ago, according to data from CoinMarketCap.

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