From bitcoin (BTC) To the shock of many investors, the price dropped again last night to around $42,100. Although there is no reason to panic yet, many bitcoin investors are still slightly concerned. Major investors, the so-called whales, don’t seem to care at all. They are currently purchasing on a large scale.
Bitcoin price
Bitcoin bulls were unable to break out upwards and a downward movement was the result. This movement was quite violent and this was also reflected in the amount of liquidations that took place. As much as $200 million worth of positions have been liquidated since last night, according to data van Coinglass.
In the short term, traders and investors are therefore bearish† Many analysts are currently looking at a test back of the level near the USD 40,000 level. Of course, in such a scenario it cannot be ruled out that the bitcoin price will also plunge substantially below $40,000.
#BTC
as long as it doesn’t reclaim 44k or even better 45-46, I’m affraid we have to be ready for more downside and at least retesting 40k and maybe even lower.Like I said a week ago, not trusting anymore those moves up….
Chart for coming week. I hope I’m wrong pic.twitter.com/wVQ74u1PPJ
— Ed_NL (@Crypto_Ed_NL) April 9, 2022
On weekends, trading volume is usually a lot lower than during the week. This can sometimes lead to high volatility on the weekend. Glassnode co-founders, Yann Allemann and Jan Happel, therefore indicated that they are preparing for a period of potentially violent price movements.
#Bitcoin is trading at a liquid range of $42-$45k. Low volume over the weekend can cause abrupt price swings.#BTC Risk signal at the high-level threshold. pic.twitter.com/J4bj2aHCKo
— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Ninetropic_) April 8, 2022
Bitcoin whales
The major bitcoin investors of this world do not seem to be too concerned about the near future of the bitcoin price. According to the latest data, whales are currently hitting large-scale. They bought large amounts of bitcoin that were put up for sale by insecure investors.
More bids being filled… $ BTC https://t.co/CKj7zF7yXW pic.twitter.com/cF48gAYxax
— Credible Crypto (@CredibleCrypto) April 9, 2022
So it seems very likely that bitcoin whales have good hopes for the medium to long term.
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