Bitcoin whales shrink assets- Here’s what to expect from BTC in March

Some Bitcoin whales have reduced the number of coins they hold. A CryptoQuant analyst says the BTC price could trend lower in the short term. The number of addresses holding 1000 Bitcoin [BTC] has continued to decrease according to a recent update from Santiment. The on-chain analytics platform tweeted on the first day of March […]

“Technically forming portfolios on an aggregate scale despite a low price, but there is still a target of 22,241, but in general to maintain a bottom above the bottom and top of the top”

The analyst also referred to the Bitcoin deposits proportion and the exchange inflow Coin Days Destroyed . The CDD evaluated the number of coins that are not being spent. So, the increase in the image shown below meant that there was high volatility, a reversal risk, and possible selling pressure.Furthermore, the technical outlook confirmed the analysis’ position because the Bollinger Bands indicated high volatility.

Regarding its momentum, the Awesome Oscillator indicated minute bullish traits. But a lot of the red bars above the midpoint bring a case to negate the bulls.Subscribe to get it daily in your inbox.

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