Bitcoin has been in an impressive form over the past few weeks, exceeding the last week's psychological $ 90,000. It seems that the Prime Minister is approaching the weekend of the cryptocurrency – if not more – after $ 95,000 on Friday, April 25th.
Who is actually behind the BTC rally?
In the new post of the X-Platform, the chain analyst IT Tech a Deep diving In a recent Bitcoin price rally, catalysts run from about $ 74,000 to $ 95,000. According to the crypto pound, recent blockage data show that the capital has been clear in the last month.
This analysis revolves around the activity of various Bitcoin investor classes (based on the time spent on their coins). According to Interteblock, most of the activities are surprisingly from traders (or short -term owners) who have increased their balance by nearly 19%in the last 30 days.
The technique noted that those traders, which are faithfully to their reactive nature and are driven by Fomo (fear of losing), has aggressively bought BTC because its price fell to about $ 74,000. At the same time, short -term traders have not taken off their feet when Bitcoin's price is now dancing over $ 95,000.
In addition, long -term owners seem to have finished shaving in recent weeks, removing the main general pressure on the price of Bitcoin. According to Interteblock, the balance of long -term BTC owners has increased at least 0.3%over the last 30 days.
Source: @IT_Tech_PL on X
Finally, it highlighted an investor -cohort called “cruiser”, Bitcoin Holdings was 1 to 12 months old. Given that their balance fell 4.4%in the last month, the chain analyst said that these investors had scattered “Hodlers” or make a profit.
The technology concluded that the price of bitcoin could enter the speculative bullish phase, which is characterized by significant short -term capital inflow and prolonged stability. But the analyst warned about the dominance of short -term hands.
Given their reactive nature, very volatile periods are historically correlated with the dominance of short -term owners. This means that the future of the Bitcoin market may have high volatility. In any case, Tech believes that the price of Bitcoin is still to reach the top of the local.
Bitcoin price briefly
As of this article, the value of Bitcoin is about $ 95,210, which reflects an increase of 2% over the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Picture from Istock, graph of TradingView
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