empty
23.06.2023 10:45 AM
Whale transactions surge: A worrying sign for Bitcoin's upward trend

Over the past seven days, Bitcoin's market capitalization has increased by 25%, and trading volumes have reached unprecedented levels of $30 billion, the highest in months. The asset has reached an important level of $30,000 and is holding its position for further upward movement towards the resistance zone of $30,500 to $31,000.

This image is no longer relevant

After several days of active upward movement, the pace of Bitcoin's price advancement has slowed down. Despite this temporary pause, the cryptocurrency's bullish momentum has been accompanied by growing buying volumes, indicating high investor interest in BTC. However, certain signals are already emerging in the market that cast doubt on Bitcoin's further progress.

Fundamental Factors

Let's start, as always, with the fundamental factors that may negatively impact Bitcoin's bullish trend. The U.S. Securities and Exchange Commission (SEC) has become the main source of negative news for the cryptocurrency market. Yesterday, there was an SEC meeting, and rumors are spreading that the regulator will take action against the DeFi market and stablecoins.

The agency has not made any specific statements, but the circulation of such rumors is already affecting the crypto market activity negatively. Considering that Bitcoin has reached a local peak near $30,000 and is unable to move further, the question of trading volumes becomes particularly acute.

This image is no longer relevant

Santiment analysts note a surging "whale transactions" in the Bitcoin market. Thanks to the volumes from institutional investors, BTC has made a powerful bullish surge in recent days. However, experts are confident that this is a worrisome signal that calls into question further upward movement.

This image is no longer relevant

For the BTC price rally to continue, larger volumes than those already involved in the market are needed. The main suppliers of such large volumes are the "whales" who are already injecting liquidity into the market. As a result, a situation may arise where Bitcoin's upward movement stalls due to a lack of necessary volumes.

BTC/USD Analysis

As of 08:00 UTC, Bitcoin is trading at the $30,000 level, with trading volumes around $18 billion. The price of BTC reached a local high at $30,700, after which there was a significant increase in bearish volumes. As a result of the trading session on June 22, the asset formed an indecisive "doji" candle, which usually indicates a relative balance between sellers and buyers.

This image is no longer relevant

The decrease in trading volumes to $18 billion also indicates a decline in buying activity. Stochastic and RSI have confirmed the completion of a massive bullish movement. The second attempt to initiate a bullish surge was unsuccessful due to significant bearish volumes. Nevertheless, MACD continues to move in an upward direction within the green zone.

This image is no longer relevant

If the current trend continues, we can expect a further decline in trading activity and a local pullback in Bitcoin's quotes. The most likely target for this is the $29,100 level, where a local support zone is located. Subsequently, the asset may resume its upward movement towards key short-term levels of $30,500 to $31,000.

Conclusion

Bitcoin's bullish surge has allowed the asset to recover from the May decline and reach a local price high. It is likely that after a local pause, the cryptocurrency's upward movement will continue towards key levels of $35,000 to $36,000. Bitcoin bulls have a window of opportunity until the next Federal Reserve meeting, where the interest rate will be raised again, making medium-term targets above $35,000 remain relevant.

Artem Petrenko,
Especialista em análise na InstaForex
© 2007-2025
Selecionar intervalo de tempo
5
min
15
min
30
min
1
hora
4
horas
1
dia
1
s.
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Bitcoin: por que maio pode se tornar um ponto de inflexão para o mercado de criptomoedas

Enquanto os participantes do mercado financeiro tradicional avaliam os riscos de recessão e as taxas de juros, o Bitcoin continua ganhando terreno de forma consistente. Abril foi o mês mais

Ekaterina Kiseleva 18:34 2025-04-30 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 30 de abril

Os compradores de Bitcoin e Ethereum continuam aproveitando as quedas pontuais do mercado para realizar compras rápidas, como ficou evidente durante a sessão asiática de hoje. No entanto, é importante

Miroslaw Bawulski 17:31 2025-04-30 UTC+2

O que pode impulsionar o Bitcoin para um novo patamar?

Enquanto o Bitcoin - e todo o mercado de criptomoedas - aguarda dados econômicos cruciais dos EUA que podem moldar o caminho do Federal Reserve, o Goldman Sachs compartilhou

Jakub Novak 16:00 2025-04-30 UTC+2

Bitcoin e Ether se mantêm firme.

As fortes quedas intradiárias de ontem no Bitcoin e no Ether foram rapidamente revertidas por compras, sinalizando o contínuo interesse de traders e investidores que aguardam apenas níveis de entrada

Jakub Novak 14:46 2025-04-30 UTC+2

US$ 200.000 para o Bitcoin até o final do ano

Embora o Bitcoin ainda esteja lutando para romper a marca dos US$ 95.000 — apesar das condições favoráveis — o Standard Chartered acredita que, no segundo trimestre, a principal criptomoeda

Jakub Novak 17:15 2025-04-29 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 29 de abril

Os compradores de Bitcoin e Ethereum estão tentando controlar o mercado - e, até agora, estão se saindo muito bem. No entanto, é importante observar que, quanto mais tempo permanecermos

Miroslaw Bawulski 17:00 2025-04-29 UTC+2

Bitcoin no início de uma nova alta: Quando esperar US$ 120.000 e mais

Após uma semana turbulenta, o mercado de criptomoedas parece ter retomado o fôlego. O Índice de Medo e Ganância marcou 51 — uma rara zona de neutralidade, indicando

Ekaterina Kiseleva 15:49 2025-04-29 UTC+2

Análise do BTC/USD em 29 de abril de 2025

A estrutura de ondas no gráfico de 4 horas do par BTC/USD tornou-se um pouco mais complexa. Observa-se uma formação corretiva de baixa que se concluiu na região

Chin Zhao 14:21 2025-04-29 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 28 de abril

O Bitcoin está sendo pressionado, mas ainda mantém uma boa confiança. Após se recuperar da marca de US$ 92.000, a primeira criptomoeda voltou à faixa dos $94.000, mantendo perspectivas positivas

Miroslaw Bawulski 17:59 2025-04-28 UTC+2

Futuros de XRP serão lançados em 19 de maio

No fim de semana, o Bitcoin registrou uma breve queda, mas rapidamente retornou ao nível de US$ 94.000. O Ether também enfrentou alguma pressão, mas conseguiu sustentar sua posição. Surpreendentemente

Jakub Novak 17:10 2025-04-28 UTC+2
Não pode falar agora?
Faça sua pergunta no chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.