Ethereum

Bitcoin

April

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-increased-selling-pressure/" data-wpel-link="internal">Bitcoin Faces Increased Selling Pressure</a> 
The largest cryptocurrency <a href="https://coin-turk.com/kripto-para-piyasasinda-son-durum-yukselisler-ve-dususler" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/italya-coronaviruse-karsi-bitcoin-yardimi-kabul-ediyor" data-wpel-link="internal">BTC</a>), has seen a 2% decline in the last 24 hours, falling below the $63,000 level, continuing to show signs of ongoing selling pressure. Recent on-chain data indicates a shift in sentiment among <a href="https://en.coin-turk.com/rekt-capital-warns-investors-of-potential-bitcoin-sell-off/" data-wpel-link="internal">Bitcoin</a> investors, with a decrease in buy calls and a notable increase in sell calls. 
<h2 style="text-align: justify" id="strong-increased-sell-calls-in-bitcoin-strong">Increased Sell Calls in Bitcoin</h2> 
The drop in Bitcoin’s price has heightened anxiety among cryptocurrency investors, leading to an increase in sell calls on social media platforms. Conversely, there is a significant decrease in buy calls. This type of change, characterized by fear, uncertainty, and doubt (FUD), is often seen as a potential opportunity period for recovery. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-345185" src="https://coin-turk.com/wp-content/uploads/2024/04/Bitcoin-Satis-Cagrilari-scaled.jpeg" alt="" width="2560" height="1663"> 
As is known, Bitcoin has been under some selling pressure following its 4th block reward halving. Analyses show that different Bitcoin investor groups apply different strategies in response to market dynamics. Large investors, often referred to as “crypto whales,” typically sell during price fluctuations to protect their gains, while smaller investors tend to preserve or increase their assets even after market peaks. 
In this context, mid-scale investors holding between 100 and 1,000 <a href="https://en.coin-turk.com/bitcoin-analyst-predicts-potential-upside-movement-as-btc-consolidates/" data-wpel-link="internal">BTC</a> tend to show a strategic approach to trading. They actively respond to market trend changes using sophisticated investment tactics. These investor groups play a significant role in shaping Bitcoin’s price movements and stand out during periods of fluctuation and price corrections. 
From October 2023 to March 2024, the observed high supply rates during bullish market periods often reflect overbought conditions, indicating a potential market correction. Moreover, this week, Bitcoin’s volatility dropped from 70% to 50%, reflecting a significant decrease on the volatility front and indicating that investors are in a “wait and see” trend. 
<h2 style="text-align: justify" id="strong-spot-btc-and-eth-etfs-expected-to-open-in-hong-kong-strong">Spot BTC and ETH ETFs Expected to Open in Hong Kong</h2> 
Looking ahead, market participants are anticipating the launch of spot Bitcoin (BTC) and <a href="https://coin-turk.com/ethereum-stake-etmek-icin-kullanilacak-en-iyi-borsalar" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/1-2-million-moved-for-the-first-time-in-8-years-with-staking-purpose-in-the-altcoin-king/" data-wpel-link="internal">ETH</a>) exchange-traded funds (ETFs) in Hong Kong on April 30th. This development is expected to positively impact the market and stimulate the overall cryptocurrency market. 
This development is particularly being closely watched as it could potentially attract institutional capital to the cryptocurrency market in Asia and positively influence Bitcoin’s price trajectory. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-increased-selling-pressure/" data-wpel-link="internal">Bitcoin Faces Increased Selling Pressure</a></h5>

Bitcoin Faces Increased Selling Pressure

Table of Contents

COINTURK NEWS

Other articles published on Apr 27, 2024

Veteran Trader Who Grew His Investment 50X in 2021 is on the Move, Has Been Accumulating This Sol...

Weekly Project Updates: Binance Launches Renzo on Launchpool, EOS Introduces New Tokenomics, $SAF...

Despite Ethereum’s Crash to $3K, Aave & Ripple Holders Find Growth Potential in Raffle Coin with ...

XRP's Uptrend Depends on This $0.52 Level, Ethereum (ETH) About to Enter Bullish Phase, Bitcoin (...

BONK Price Climbs Over 4100%, Is It the Right Time to Buy?

Exploring the Potential Decline in Dogwifhat Token’s Market Value

Join our free newsletter for daily crypto updates!