Bittime - Although Bitcoin (BTC)'s bull run remains rocky, on-chain data shared by CryptoQuant founder Ki Young Ju shows an increase in the movement of legacy coins. The Bitcoin Average Dormancy chart shows that this trend recently reached a 13-year peak.
What happens during the Bitcoin Halving? How will the price of BTC develop in the future? With click on this link, you will find the answer.
More Old Whales Move Coins
The average number of days that each Bitcoin is in a dormant state is shown on the Bitcoin Average Dormancy chart. According to the chain's data, coins that have been stored for three to five years have changed hands and found new owners.
The data shows that the coins were not transferred to exchanges; instead, they may be traded over the counter (OTC). Any submission to a centralized exchange like Binance or Coinbase usually indicates an intent to sell.
The possibility of massive selling increases with the number of coins coming to these exchanges, especially from whales. However, if trading is done OTC, the effect on spot prices is small, which benefits buyers.
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Potential Bitcoin Price Will Rise
However, an analyst said in a post on X that prices may increase due to spot Bitcoin ETFs. Due to high inflows in recent weeks, these derivatives serve as protection against falling prices.
With spot ETFs, institutions can gain regulated exposure to BTC. With decreasing outflow from GBTC, the price may remain high. On April 23, GBTC offloaded 750 BTC according to Lookonchain data. However, Fidelity and eight other spot ETF issuers purchased 1,513 BTC for their clients.
How to Buy Crypto:
Spot Bitcoin ETF sellers sell shares that represent Bitcoin holdings. You can buy these coins directly from miners, from secondary markets such as Binance, or through OTC platforms.
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BTC Price Movement
Bitcoin price is still below $68,000, which was its highest point on April 13.High volume expansion above this liquidation line should reverse recent losses to define an uptrend.
However, for a clear continuation of the trend, buyers need to break above the all-time high if looking at the BTC USDT candlestick arrangement on the daily chart. Ideally, a rise above $73,800 and the current range should be accompanied by increasing volume, indicating the presence of buyers.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Too:
Mining Bitcoin vs Validating Bitcoin Transactions
Bitcoin Last 30 Days: Bitcoin Halving Impact
What is Bitcoin Unlimited (BTCU)? Bitcoin Derivatives Project
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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