{"id":15386,"date":"2024-07-21T11:11:38","date_gmt":"2024-07-21T08:11:38","guid":{"rendered":"https:\/\/forklog.com\/en\/analyst-reports-exhaustion-among-major-bitcoin-sellers\/"},"modified":"2024-07-21T11:11:38","modified_gmt":"2024-07-21T08:11:38","slug":"analyst-reports-exhaustion-among-major-bitcoin-sellers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analyst-reports-exhaustion-among-major-bitcoin-sellers\/","title":{"rendered":"Analyst Reports &#8216;Exhaustion&#8217; Among Major Bitcoin Sellers"},"content":{"rendered":"<p>The market is witnessing a decline in selling pressure from major investors as the price of the leading cryptocurrency stabilizes around $67,000, according to Julio Moreno, Head of Research at CryptoQuant.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> large Sellers are exhausted and <br \/>valuation metrics suggest positive momentum.<\/p>\n<p>We published our weekly report on Wednesday, see link in the below post ? <a href=\"https:\/\/t.co\/hztAeFCnHy\">pic.twitter.com\/hztAeFCnHy<\/a><\/p>\n<p>\u2014 Julio Moreno (@jjcmoreno) <a href=\"https:\/\/twitter.com\/jjcmoreno\/status\/1814356502226018332?ref_src=twsrc%5Etfw\">July 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cLarge bitcoin sellers are exhausted, and volume indicators point to positive dynamics,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>Major investors are defined as market participants holding between 1,000 BTC and 10,000 BTC.<\/p>\n<p>Moreno added that the realized profit of digital gold holders is \u201cminimal compared to March or May.\u201d<\/p>\n<p>At the time of writing, bitcoin is trading at $66,670, having gained 3.5% over the month. According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>, the asset&#8217;s market capitalization stands at $1.31 trillion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXehZRcVvn0XKd6SPqKQo6YO34J7M6bToismNaBmTRjTD_JJPhSVo9ZsxC1xI48eKx2027LD63Z2CkWSwg6AVRGyGk5397esY_oLem7lmXpCv1rd49BiYkG3Huignlo8zCZuZDdxhnLcSTohDq4jg-vRX73E?key=8Vp2yG1SLZIHiY93PtEt7Q\" alt=\"Analyst Reports 'Exhaustion' Among Major Bitcoin Sellers\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>While most of the market is watching the local support level at $65,000, a trader known as Mikybull has predicted a continuation of the rally.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> next point to complete the weekly megaphone price pattern is $69k.<\/p>\n<p>The megaphone price pattern target is within $84k-$88k. <a href=\"https:\/\/t.co\/YCMSKGEuVF\">https:\/\/t.co\/YCMSKGEuVF<\/a> <a href=\"https:\/\/t.co\/L6yOrhKBpm\">pic.twitter.com\/L6yOrhKBpm<\/a><\/p>\n<p>\u2014 Mikybull ?Crypto (@MikybullCrypto) <a href=\"https:\/\/twitter.com\/MikybullCrypto\/status\/1813440970169467297?ref_src=twsrc%5Etfw\">July 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe next point to complete the weekly megaphone pattern is $69,000. The pattern&#8217;s target is within $84,000-$88,000,\u201d the expert stated.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/pro\/dashboard\/bitcoin\">Coinglass<\/a>, a rise to $69,000 would lead to the liquidation of short positions worth nearly $900 million.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXfOP6NPgGS2Xlor77XOTXo_-JJPNl0zVZPpdUBIgFmUr8HzasMUdK8VEtG193L_Jf8XCSOfkos1eYHjdsqWhrt4Mm8tkM1UG7xcRpXkpQGlgYy3Aiuq3muCOkNNsM_wZ8WMK9ntDmdnHPw4H0g8-hsTiPA?key=8Vp2yG1SLZIHiY93PtEt7Q\" alt=\"Analyst Reports 'Exhaustion' Among Major Bitcoin Sellers\"\/><figcaption class=\"wp-element-caption\">Bitcoin liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n<p>Bitcoin has not reached $67,000 since June 12, prompting traders to note other optimistic indicators suggesting a continued upward trend.<\/p>\n<p>Quinten Francius, co-founder of WeRate, noted that the Bollinger Bands are at their lowest levels since April 2016. This metric measures an asset&#8217;s volatility within a specific range.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Weekly Bollinger Bands are at the same lowest levels ever recorded<\/p>\n<p>April 2016: $450 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a><br \/>January 2023: $16,500 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/t.co\/AFRHKDiKyl\">pic.twitter.com\/AFRHKDiKyl<\/a><\/p>\n<p>\u2014 Quinten | 048.eth (@QuintenFrancois) <a href=\"https:\/\/twitter.com\/QuintenFrancois\/status\/1814254389554544957?ref_src=twsrc%5Etfw\">July 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt&#8217;s nice to see bitcoin&#8217;s price returning to the short-term holders&#8217; realized price. It&#8217;s like a magnet in bull markets,\u201d <a href=\"https:\/\/x.com\/PositiveCrypto\/status\/1814234246342439410\">added<\/a> Trendstorm CEO Philip Swift.<\/p>\n<\/blockquote>\n<p>An analyst known as On-Chain College highlighted bitcoin&#8217;s breakthrough above a key level and its strengthening above the $64,000 support line.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin breaking above a key level, indicating strong momentum &#038; a nice area of support at $64K.<\/p>\n<p>This is after a period of BTC moving from weak hands to stronger hands.<\/p>\n<p>BTC Nashville next week with Trump &#038; others speaking pro-BTC.<\/p>\n<p>The rocket ship is prepared for takeoff. <a href=\"https:\/\/t.co\/ZX1JHlKjtY\">pic.twitter.com\/ZX1JHlKjtY<\/a><\/p>\n<p>\u2014 On-Chain College (@OnChainCollege) <a href=\"https:\/\/twitter.com\/OnChainCollege\/status\/1814711873260097650?ref_src=twsrc%5Etfw\">July 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis occurred after a period of the first cryptocurrency moving from weak hands to stronger hands,\u201d he explained.<\/p>\n<\/blockquote>\n<p>Earlier, CryptoQuant analysts indicated that bitcoin had reached a local bottom. In their view, various metrics now point to upward momentum.<\/p>\n<p>Earlier, Bitwise&#8217;s Chief Investment Officer predicted that digital gold could rise to $100,000 by the end of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market is witnessing a decline in selling pressure from major investors as the price of the leading cryptocurrency stabilizes around $67,000, according to Julio Moreno, Head of Research at CryptoQuant. #Bitcoin large Sellers are exhausted and valuation metrics suggest positive momentum. We published our weekly report on Wednesday, see link in the below post [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145],"class_list":["post-15386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15386"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15385"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}