2024

United

Bitcoin

Silk Road

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-more-pain-ahead-as-small-holders-join-whales-in-btc-liquidations/" rel="noopener noreferrer nofollow">Bitcoin Price Analysis: More Pain Ahead as Small Holders Join Whales in BTC Liquidations</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
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 <li><strong>Bitcoin’s poor performance since the approval of spot ETFs has impacted most investors’ optimism.</strong></li>
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 <li><strong>A close below $40k this week will signal more short-term weaknesses amid heightened selling pressure.</strong></li>
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 <li><strong>Bitcoin’s performance in the past two weeks has similarly impacted the altcoin market.</strong></li>
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<p><a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s (BTC) price</a> has continued to hang around $40,000 in the past three days despite the heightened on-chain activity. With more than $3.75 billion worth of Bitcoin options set to expire today, more volatility should be registered over the weekend as investors realign their portfolios. Notably, Bitcoin’s short-term holders and miners have been offloading their holdings in the recent past as the spot BTC ETF approval in the United States turns out to be a classic sell-the-news event. Furthermore, Grayscale’s GBTC has been the largest source of selling pressure in the past two weeks, thus weighing heavily on the crypto-bullish sentiment.</p>
<h2 class="wp-block-heading" id="h-closer-look-at-bitcoin-on-chain-analysis-nbsp">Closer Look at Bitcoin On-chain Analysis&nbsp;</h2>
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   <p lang="en" dir="ltr">less being liquidated in the last 4 days alone. History tells us that this is typically a sign of capitulation, which can lead to a market price bounce until smaller traders begin to get optimistic toward <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> as an investment vehicle once again. The disappointment<br><br>(Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1750699360319680533?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 26, 2024</a>
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<p>As the United States government prepares to liquidate Bitcoins, which were acquired from the Silk Road seizure, worth $130 million, on-chain data shows small wallet holders have been getting impatient and accelerated their selling pressure. According to market intelligence platform Santiment, more than 487,000 Bitcoin wallets that held 1 BTC or less liquidated their positions in the past four days alone. Additionally, Bitcoin wallets with a balance of between 1 and 1k registered a decline of 4,752 wallets in the same period. Ideally, Santiment concluded that a decline in Bitcoin wallet holders signals an early sign of market capitulation.&nbsp;</p>
<h2 class="wp-block-heading" id="h-price-analysis-and-short-term-expectations-nbsp">Price Analysis and Short-Term Expectations&nbsp;</h2>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> short-term perspective and idea. <a href="https://t.co/3oeg4IMVuA" rel="noopener noreferrer nofollow">pic.twitter.com/3oeg4IMVuA</a></p>— PROFIT BLUE (@profit8lue) <a href="https://twitter.com/profit8lue/status/1750713290198602089?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 26, 2024</a>
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<p>Bitcoin price has been on a falling trend since the approval of spot BTC ETFs in the United States on January 11. With heightened short-term selling pressure, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> will fall toward the support level of around $38k. If the Bitcoin bulls fail to hold on to the support level around $38k, the next support range will be between $32,000 and $36,000 according to the weekly auto-fib extension. Meanwhile, a double-top reversal pattern is on the cusp of being confirmed if Bitcoin price closes consistently below $40k in the coming weeks.</p>

Bitcoin Price Analysis: More Pain Ahead as Small Holders Join Whales in BTC Liquidations

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