According to Young Ju, the whales are still active!
#CryptoQuant CEO Ki Young Ju pointed out that looking at the buying movements of Bitcoin whales, a price boom could actually be seen soon.
✅Mobility Begins For Bitcoin Price
#Bitcoin Is Next After #Ethereum Price Records!
The famous analyst and blockchain researcher stated that there are probably large BTC purchases made on OTC platforms and their transfers have been seen. Stating that the whales bought bitcoins heavily, the analyst emphasized that the fact that they are not based on the stock market makes things difficult.
According to the analyst, the #NFT indicator is currently a gold cross. It is quite far away, which shows that the transaction volume is very high compared to market capitalization. The NVT indicator is used to show if any formation is at the top or bottom. A value below -1.6 for NVT indicates that Bitcoin, the leading cryptocurrency, is in a pre-bullish phase.
✅NVT Signals Up In Bitcoin
The NVT indicator reached a value of -2.95 at the end of April and made the gold cross. Ju also stated in his statement on the subject that NVT has reached its lowest level of the year and emphasized that BTC may move in the coming days. According to the NVT valuation model, it is also seen that the analyst is targeting again above $ 60,000.
In addition, he emphasized that whales transfer Bitcoin to derivatives exchanges. These transfers, on the other hand, can lead to a serious movement and rise in the Bitcoin price in the short term. Young Ju notes that every time a significant amount of BTC is transferred to derivatives exchanges, the whales open long positions and use BTC as collateral. Indicating that this is in the lows, the analyst hinted that the current level is also low.
✅Mobility Begins For Bitcoin Price
Bitcoin, the leading cryptocurrency, is trading at $ 57,955 as of the time of this writing, pushing the $ 58,000 level. Although BTC has gained 2% in the last 24 hours, all eyes have been turned on Ethereum in the top 10 . Ethereum broke the all-time record with a 5% rise in 24 hours and made history by surpassing $ 3,000