Amid fears of new falls to Bitcoin (BTC), las whales They are taking advantage of the Departure from small investors To accumulate tokens at a lower price. What is also a Historically bullish sign In the long term.
According to data from SinglentBitcoin has lost approximately 277,240 active wallets In the last three weeks and has fallen to 52.45 millionwhich marks a minimum of five months.
But it is not only the exit of small investors, but the institutional outputs of Bitcoin ETFs have added greater sales pressure.
The data of Socal They show that on February 12, the ETF THE BITCOIN They registered more than 251 million dollars in net exits, the third consecutive day of negative flows.
According to data from Fatherly, Wise Origin Bitcoin Fund de Fidelity has lost 102 million dollars and iShares Bitcoin Trust de BlackRock 22.1 million dollars on February 12.
IntoTheBlock pointed out that on February 5 the whales accumulated approximately 39.620 Bitcoinfor a value of 3,790 million dollarsWhen Bitcoin briefly quoted below $ 97,600.
On the way to $ 120,000?
Weslad, cryptocurrency analysthe pointed out that Bitcoin could reach the $ 120,000 due to a Asta and flag pattern. Which has excited numerous investors, who anticipate a massive rpture upwards.
Weslad has indicated that Bitcoin’s price faced a rejection in an external offer area after experiencing a Awesome 27% rebound from a strong external demand zone between 85,300 and 86,800 dollars. This movement has left a perfect bullish flag formation.
Weslad suggests that his recent rejection is not seen as a recession but rather as a Smart money accumulation zone Designed to shake the weakest hands that panic during market falls. As we have seen with the departure of small investors.
Despite the resistance in the 91,000 and $ 95,000, Weslad has indicated this as a false correction due to one Liquidity Engineering. Which allows big players to acquire bitcoins at lower prices waiting for a bullish rebound.
Weslad has also highlighted the recent rupture of a descending channel which has restricted price movements. This rupture could be the resurgence of optimism For Bitcoin, which could carry it in the first instance to the 108,089 dollars. And then address the final objective in the 120,843 dollars.
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