Bitcoin (BTC) is facing a significant price cut this week, with some reaching $ 30,000, but long-term BTC may be safer.
On Twitter on April 28, Whalemap, a chain analytics platform, determined that “many” investors should enter the market by supporting whales.
Should hostesses hope for the “biggest pain”?
Bitcoin whales are the focus of the most important consolidation area in the history of bitcoin, their buying and selling.
Last month’s analysis showed that last month’s large-scale sellers were barred from approaching $ 50,000.
Now that the $ 30,000 has returned to the trader’s radar as a “last resort,” these whales may actually be helping to cement a new macro layer of BTC / USD.
For Whalemap, the $ 27,000 raised means this level, which is the annual low of July 2021 and the low of July.
“The 25K to 27K area is the biggest pain for many people.”
“If we go there, it’s the best place for bitcoins to go.”
Whalemap sorted the bitcoin map by the size of its wallet, making it the basis for its potential price target. The actual price will indicate at what price the last bit of each coin will be traded, making it an important exchange point for buyers and sellers of $ 25,000 ~ 27,000.
At the same time, the largest whales also have an interest of $ 34,000.
Bitcoin sensed the price through the address table. Source: Whalemap / Twitter
Bitcoin exchange is still busy with buyers
Looking at the buying habits more broadly, April was not disappointed despite the decline.
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Data from the chain analytics firm Glassnode and CryptoQuant show that BTC is not only moving fast, but also reaching a very low level.
“The 30-day change in bitcoin exchange balance has reached a negative level, which we have only seen a few times in the last two years,” the Twitter account, along with an annotated table of exchange rate changes by Glassnode’s On-Chain Institute for Twitter, wrote. .
Bitcoin Web Site Change Comment Table. Source: Chain University / Twitter
At the same time, the 21 trading platforms followed by CryptoQuant, BTC stocks have reached their lowest level since September 2018.
Bitcoin exchange reserve table. Source: CryptoQuant
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