{"id":607179,"date":"2024-05-09T11:30:12","date_gmt":"2024-05-09T11:30:12","guid":{"rendered":"https:\/\/wncen.com\/?p=607179"},"modified":"2024-06-11T07:00:55","modified_gmt":"2024-06-11T07:00:55","slug":"bitcoin-whales-interest-50000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whales-interest-50000\/","title":{"rendered":"Bitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000?"},"content":{"rendered":"

Movement and accumulation from crypto whales are two of the <\/span>catalysts for Bitcoin<\/span><\/a> price increases. Although major whales are <\/span>still buying the dip<\/span><\/a>, on-chain data indicates a general waning accumulation momentum which suggests their conviction might actually be waning.\u00a0<\/span><\/p>\n

According to IntoTheBlock, an on-chain analytics firm, Bitcoin whale accumulation volumes have declined substantially in each buying cycle over the past month. This decline in whale accumulation <\/span>could be worrying for investors<\/span><\/a>, especially as the price of Bitcoin is now trying to hold above $60,000.<\/span><\/p>\n

Whale Appetite For Bitcoin Dips According To On-Chain Data<\/h2>\n

Whales, or large investors holding over 1,000 BTC, have accumulated strongly since the beginning of the year, especially during market dips. This accumulation has largely helped to keep Bitcoin in bullish sentiment and prevented huge price declines. However, IntoTheBlock recently revealed an interesting pattern between these whale wallets in each accumulation phase.\u00a0<\/span><\/p>\n

Related Reading: Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25<\/a><\/div>\n

The largest accumulation occurred between March 5 and March 7, when these wallets acquired over 120,000 BTC. Every succeeding price dip has, however, seen less accumulation than the one before it. Particularly, Bitcoin’s recent dip to $56,000 failed to attract notable whale accumulation. This drop in buying and selling activity indicates whales may have lost some interest or appetite for accumulating more Bitcoin in the short term.<\/span><\/p>\n

\n

Whales are buying the dip, but is their conviction dwindling?<\/p>\n

\ud83d\udecd\ufe0fAddresses holding over 1000 BTC have accumulated strongly in recent months, especially during dips.<\/p>\n

\ud83d\udcc8Prices have increased shortly following every accumulation.<\/p>\n

However, note that each spike in accumulation by\u2026 pic.twitter.com\/OkbekJr5NC<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) May 6, 2024<\/a><\/p><\/blockquote>\n

Precursor For A Crash To $50,000?<\/h2>\n

The waning conviction among Bitcoin whales has raised the question of whether Bitcoin could reverse back into a <\/span>full bearish momentum<\/span><\/a>. These concerns are particularly valid, considering some analysts are of the notion that Bitcoin <\/span>might’ve reached its peak<\/span><\/a> in this cycle.\u00a0<\/span><\/p>\n

As IntoTheBlock noted, prices have increased shortly following every accumulation this year. While the lower whale buying activity could stall price increases in the short term, it is not a sure sign that Bitcoin is headed for a major price crash. However, if the trend continues for several more months, it could signal lower demand and a weakening bull market.<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu \u2013 Here\u2019s The Target<\/a><\/div>\n

According to the “In\/Out Of Money Metric”, there is still a strong resistance volume between $59,000 and $61,000. A drop below this range again would push 552,220 addresses into losses. In fact, while a drop to his level would be painful for many holders, most crypto analysts <\/span>remain optimistic about Bitcoin’s<\/span><\/a> long-term prospects.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at $61,488. The crypto recently rebounded around $57,500 and is up by 7.4% in the past seven days. According to analyst Marco Johanning, $57,000 <\/span>is an important support level<\/span><\/a> for Bitcoin. He noted that while a break below $57,000 could lead to further declines into $52,000, the crypto market is still very bullish for Bitcoin.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price struggles to hold $61,000 support | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from FameEX, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Movement and accumulation from crypto whales are two of the catalysts for Bitcoin price increases. Although major whales are still buying the dip, on-chain data indicates a general waning accumulation momentum which suggests their conviction might actually be waning.\u00a0 According to IntoTheBlock, an on-chain analytics firm, Bitcoin whale accumulation volumes have declined substantially in each buying cycle over the past month. This decline in whale accumulation could be worrying for investors, especially as the price of Bitcoin is now trying to hold above $60,000. Whale Appetite For Bitcoin Dips According To On-Chain Data Whales, or large investors holding over 1,000 BTC, have accumulated strongly since the beginning of the year, especially during market dips. This accumulation has largely helped to keep Bitcoin in bullish sentiment and prevented huge price declines. However, IntoTheBlock recently revealed an interesting pattern between these whale wallets in each accumulation phase.\u00a0 Related Reading: Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25 The largest accumulation occurred between March 5 and March 7, when these wallets acquired over 120,000 BTC. Every succeeding price dip has, however, seen less accumulation than the one before it. Particularly, Bitcoin’s recent dip to $56,000 failed to attract notable whale accumulation. This drop in buying and selling activity indicates whales may have lost some interest or appetite for accumulating more Bitcoin in the short term. Whales are buying the dip, but is their conviction dwindling? \ud83d\udecd\ufe0fAddresses holding over 1000 BTC have accumulated strongly in recent months, especially during dips. \ud83d\udcc8Prices have increased shortly following every accumulation. However, note that each spike in accumulation by\u2026 pic.twitter.com\/OkbekJr5NC \u2014 IntoTheBlock (@intotheblock) May 6, 2024 Precursor For A Crash To $50,000? The waning conviction among Bitcoin whales has raised the question of whether Bitcoin could reverse back into a full bearish momentum. These concerns are particularly valid, considering some analysts are of the notion that Bitcoin might’ve reached its peak in this cycle.\u00a0 As IntoTheBlock noted, prices have increased shortly following every accumulation this year. While the lower whale buying activity could stall price increases in the short term, it is not a sure sign that Bitcoin is headed for a major price crash. However, if the trend continues for several more months, it could signal lower demand and a weakening bull market. Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu \u2013 Here\u2019s The Target According to the “In\/Out Of Money Metric”, there is still a strong resistance volume between $59,000 and $61,000. A drop below this range again would push 552,220 addresses into losses. In fact, while a drop to his level would be painful for many holders, most crypto analysts remain optimistic about Bitcoin’s long-term prospects.\u00a0 At the time of writing, Bitcoin is trading at $61,488. The crypto recently rebounded around $57,500 and is up by 7.4% in the past seven days. According to analyst Marco Johanning, $57,000 is an important support level for Bitcoin. He noted that while a break below $57,000 could lead to further declines into $52,000, the crypto market is still very bullish for Bitcoin. BTC price struggles to hold $61,000 support | Source: BTCUSD on Tradingview.com Featured image from FameEX, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,19064,1119,89185,1122,83757,1144,78790,89615,14781],"class_list":["post-607179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btc-whales","tag-btcusd","tag-btcusdt","tag-whale-news","tag-whales"],"acf":[],"yoast_head":"\nBitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000?<\/title>\n<meta name=\"description\" content=\"Movement and accumulation from crypto whales are two 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000?","url":"http:\/\/wncen.com\/news\/bitcoin-whales-interest-50000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-whales-interest-50000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_4f1169.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_4f1169.jpeg?fit=275%2C183"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","bitcoin whales","btc","btc news","btc price","btc whales","btcusd","btcusdt","whale news","whales"],"dateCreated":"2024-05-09T11:30:12Z","datePublished":"2024-05-09T11:30:12Z","dateModified":"2024-06-11T07:00:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Lose Interest, Is This A Precursor For A Crash To $50,000?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-interest-50000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-interest-50000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_4f1169.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_4f1169.jpeg?fit=275%2C183\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btc whales\",\"btcusd\",\"btcusdt\",\"whale news\",\"whales\"],\"dateCreated\":\"2024-05-09T11:30:12Z\",\"datePublished\":\"2024-05-09T11:30:12Z\",\"dateModified\":\"2024-06-11T07:00:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_4f1169.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607179"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=607179"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/607197"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}