Bitcoin

April

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/signs-of-a-major-correction-loom-in-the-bitcoin-market/" data-wpel-link="internal">Signs of a Major Correction Loom in the Bitcoin Market</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/abdnin-en-buyuk-bes-federal-kurumu-bir-araya-geldi-ve-acikladi-kripto-paralari-onlar-icin-durduracagiz" data-wpel-link="internal">The cryptocurrency</a> market rose throughout February, bolstered by <strong><a href="https://coin-turk.com/bitcoin-btc-60-000-dolarlik-direnci-asabilecek-mi" data-wpel-link="internal">Bitcoin’s</a></strong> (<a href="https://coin-turk.com/bitcoin-videolari-tiktokta-viral-oluyor" data-wpel-link="internal">BTC</a>) exceptional performance, while leading crypto data platform Santiment’s analysts warned of potential turbulence in March. According to Santiment’s monthly report, despite <a href="https://en.coin-turk.com/bitcoins-faltering-momentum-a-potential-slip-towards-23000-or-a-moment-of-reality/" data-wpel-link="internal">Bitcoin</a>‘s extraordinary 45% rise last month, including surpassing several key resistance levels such as $60,000, the market is now showing signs of an impending correction.</p> 
<h2 style="text-align: justify" id="strong-signs-of-serious-correction-emerge-strong"><strong>Signs of Serious Correction Emerge</strong></h2> 
<p style="text-align: justify">Bitcoin’s February rise fueled fear of missing out (FOMO) among investors, contributing to the rapid price increase. However, Santiment reported that the rally’s enthusiasm might have reached a reasonable level, indicating a potential slowdown in buying pressure. It also noted significant increases in the average trading returns of both short-term and long-term active wallet addresses, which could heighten the likelihood of sell-offs due to profit-taking.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-322144" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-Duzeltme.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">In particular, active wallet addresses trading in the last 30 and 365 days have seen noteworthy gains with returns exceeding levels not seen since April 2021. Santiment added that such high returns, combined with data flows indicating Bitcoin whales are fragmenting their holdings, could pave the way for a short-term market correction.</p> 
<p style="text-align: justify">While the fragmentation of Bitcoin holdings among whales does not directly indicate imminent selling pressure, it is critical as it points to a cautious approach among large investors. Moreover, Santiment highlighted that the percentage of <a href="https://en.coin-turk.com/a-crazy-proposal-from-dogecoin-co-founder-for-bitcoin-btc/" data-wpel-link="internal">BTC</a> held on cryptocurrency exchanges remains relatively low, underlining that whales have not yet moved large amounts of BTC to trading platforms.</p> 
<h2 style="text-align: justify" id="strong-weak-whale-accumulation-a-clear-indicator-of-short-term-correction-strong"><strong>Weak Whale Accumulation: A Clear Indicator of Short-Term Correction</strong></h2> 
<p style="text-align: justify">Drawing on historical data, Santiment emphasized that inflated average investor and trader returns, when combined with weak whale accumulation, typically precede short-term market corrections. The outcome of the latest on-chain data, including potential panic sales by investors and the reaction of whales to market dynamics, remains uncertain and will likely shape the market’s direction in the coming weeks.</p> 
<p style="text-align: justify">Experts, analysts, and crypto data platforms like Santiment are alerting to high volatility for the cryptocurrency market this month, stressing the importance for investors to stay vigilant and closely monitor on-chain data.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/signs-of-a-major-correction-loom-in-the-bitcoin-market/" data-wpel-link="internal">Signs of a Major Correction Loom in the Bitcoin Market</a></h5>

Signs of a Major Correction Loom in the Bitcoin Market

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