2024

United

Bitcoin

James

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-sees-largest-transaction-of-worth-665-3m-in-2024/">Volatility Incoming? Altcoin Season &amp; Bearish RSI Hint at Bitcoin Downturn</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin (BTC) price</a> is gradually forming a reversal pattern that will increase its volatility in the coming weeks. After closing last week on a shooting star pattern and a possible double top coupled with a bearish divergence on the weekly <a href="https://coinpedia.org/traders/relative-strength-index-rsi/">Relative Strength Index (RSI)</a>, it is more convincing that a post-ETF reversal is inevitable. </p> 
<p>Furthermore, short-term Bitcoin holders and miners have accelerated their profit-taking in the recent past in anticipation of the altcoin season. Notably, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum (ETH)</a> dominance has continued to gain momentum against Bitcoin, following the resounding rebound of the ETB/BTC pair.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-on-chain-insights-whales-makes-waves">On-Chain Insights: Whales Makes Waves </h2> 
<p>Bitcoin’s blockchain activity is buzzing, with three significant transactions totaling approximately 42,870 coins in the past 24 hours. A noteworthy single transaction involving a whopping 11,000 coins, deposited into a Coinbase wallet by a crypto whale, has injected selling pressure amid the prevailing bearish sentiments.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> The largest <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> transaction thus far in 2024, worth $665.3M, occurred ~6 hours ago. Between 3pm and 4pm UTC, this transaction contributed to a total of 42,870 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> moved in 1 hour, the highest level of hourly movement in nearly 6 months. <a href="https://t.co/LigU0fVgYm">https://t.co/LigU0fVgYm</a> <a href="https://t.co/m2YPbgy7EG">pic.twitter.com/m2YPbgy7EG</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1747386100661055938?ref_src=twsrc%5Etfw">January 16, 2024</a>
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<p>Also Read: <a href="https://coinpedia.org/price-analysis/wall-street-not-saving-bitcoin-longs-btc-price-could-reach-here-by-the-end-of-january-2024/">Wall Street Not Saving Bitcoin Longs: BTC Price Could Reach Here by the End of January 2024</a></p> 
<p>Santiment’s data analysis reveals a strategic interplay between crypto whales and sharks. Whales, holding over 10,000 Bitcoins, strategically accumulate more, while crypto sharks with holdings below 1,000 Bitcoins have been actively offloading in recent days, adding complexity to market dynamics.</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="Bitcoin's LARGEST Move in 6 Months Could SHAKE UP Markets!" width="1220" height="686" src="https://www.youtube.com/embed/MoytIDM5mc8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<h2 class="wp-block-heading" id="h-spot-etfs-continue-to-soar">Spot ETFs Continue to Soar </h2> 
<p>The debut of spot Bitcoin ETFs in the United States witnessed a successful three-day trading session. With nearly $10 billion in cumulative trading volume, these ETFs outshone the $450 million recorded by 500 newly approved ETFs in 2023.</p> 
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   <p lang="en" dir="ltr">Update on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETF Cointucky Derby. The ETFs have traded almost $10 billion total over 3 days. Will have updated flows and assets later tonight or tomorrow morning. <a href="https://t.co/OnpCshjYJP">pic.twitter.com/OnpCshjYJP</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1747366266166206505?ref_src=twsrc%5Etfw">January 16, 2024</a>
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<p>With more cash inflow expected in the <a href="https://coinpedia.org/news/grayscale-blackrock-and-fidelity-own-almost-all-the-money-1-6-billion-on-day-three/">spot Bitcoin ETFs</a> around the world, the macro bullish outlook will undeniably prevail in the coming years.</p> 
<p>Read More: <a href="https://coinpedia.org/news/potential-impact-of-spot-bitcoin-etfs-on-short-trades-by-traditional-market-participants/">Bitcoin ETF Buzz Triggers Golden Opportunity for Short Sellers; Here’s How</a></p>

Volatility Incoming? Altcoin Season & Bearish RSI Hint at Bitcoin Downturn

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