Investors Holding 1-100 Bitcoins in Their Wallets May Be Selling!

  • According to a new report, investors holding 1-100 Bitcoin (BTC) have increased their coin distribution in the past few days due to the overall negative sentiment.
  • In general, an increase in Spent Outputs of these BTC holders usually indicates a potential increase in selling activity by these investors.
  • While overall sentiment remained in the negative zone, an evaluation of BTC’s exchange activity showed a decrease in Bitcoin’s exchange reserves.

According to recent data, investors holding 1-100 BTC in their wallets may be selling their assets, but buying activity continues to dominate.

BTC Holders May Be Selling

Bitcoin (BTC) (29)

According to a new report, investors holding 1-100 Bitcoin (BTC) have increased their coin distribution in the past few days. An evaluation of BTC’s Spent Outputs for wallets holding between 1 and 100 BTC by CryptoOnchain revealed that a significant percentage of leading coins have been moved or spent from these wallets in recent days.

bitcoin-exchange-metrics

In general, an increase in Spent Outputs of these BTC holders usually indicates a potential increase in selling activity by these investors. This could be due to various factors such as profit realization, market sensitivity, or belief that the price may further decline.

However, it could also mean that these investors have transferred their BTC assets to other assets in recent days. CryptoOnchain noted that the largest increase in Spent Outputs was observed in wallets holding 10 to 100 BTC, which currently stands at around 28,000 BTC after reaching approximately 36,170 BTC in recent days, stating:

“The largest increase can be seen in wallets holding 10 to 100 Bitcoin, which currently stands at around 28,000 after reaching approximately 36,170 BTC in recent days.”

The decision to reduce BTC holdings may be due to the continuous decline in positive sentiment. According to Santiment, BTC’s weighted sentiment has been negative since June 9th.

Bitcoin’s Exchange Reserves Decreasing

While overall sentiment remained in the negative zone, an evaluation of BTC’s exchange activity showed a decrease in Bitcoin’s exchange reserves. This metric tracks the total amount of BTC held on exchanges. An increase in this metric indicates a rally in selling pressure, while a decrease indicates an accumulation.

According to CryptoQuant’s data, BTC’s exchange reserves showed a downward trend between June 2nd and June 25th, followed by an increase until the end of the second quarter. The price movements during this period resulted in significant volatility. This may have led many individuals to close their trading positions and send their BTC to exchanges for selling.

However, in the past two days, this metric has decreased since the beginning of July, indicating a return to normalcy.

bitcoin-exchange-reserve

Meanwhile, while a certain group of BTC holders may be selling, buying activity continues uninterrupted among others. This has been confirmed by looking at BTC’s price chart.

As of press time, the main momentum indicators RSI and MFI are resting above neutral levels at 65.57 and 71.16, respectively. At these points, BTC approaches overbought levels. While BTC’s price rests near the upper band of the Bollinger Bands indicator at the time of writing, nearing overbought levels may encounter resistance and lead to a pullback or consolidation period.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin, Ethereum Slide With Stocks: Did the Market Break?

Discover the key factors driving the current market downturn, and their impact on Bitcoin, Ethereum, and other cryptocurrencies. Explore expert insights and potential future scenarios.

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.

Bitcoin (BTC) Price Retreats Amid Gold’s Record Surge; Analysts Eye Re-accumulation Phase

Find out why Bitcoin's momentum stalled as gold soared to new highs. Explore expert insights on BTC's price trajectory and the significance of re-accumulation patterns.

Litecoin (LTC) Surges in Popularity, Surpassing 5 Million Long-Term Holders

Discover the reasons behind Litecoin's surge in popularity and why investors are increasingly choosing LTC for long-term holdings. Get insights into the future potential of this established cryptocurrency.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin BTC’s Path to Recovery: Will the Upcoming Halving Trigger a Rise Above $71,400?

This analysis delves into Bitcoin's immediate future as it approaches a critical halving event, exploring potential movements above key resistance levels.

Bitcoin (BTC) Surges Past $70k: Could $75k be the Next Target?

Bitcoin (BTC) has made a decisive move above $70,000, indicating bullish momentum. This article delves into the factors driving the surge, technical analysis, and what investors should watch for in the near term.

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.

Bitcoin (BTC) Surges Past $70k: Could a Rally to $75k be Next?

Get expert analysis on Bitcoin's breakout above $70,000. Discover what's driving the price action, key levels to watch, and potential scenarios for BTC's near-term future.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin, Ethereum Slide With Stocks: Did the Market Break?

Discover the key factors driving the current market downturn, and their impact on Bitcoin, Ethereum, and other cryptocurrencies. Explore expert insights and potential future scenarios.

Bitcoin (BTC) is “Super Cheap” at $69k: Adam Back Rejects Post-Halving Crash Predictions

Legendary cypherpunk and Blockstream CEO Adam Back offers a contrarian view on Bitcoin's price action. Get expert insights on market sentiment, halving predictions, and BTC's long-term value potential.

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

The Ethereum Pectora upgrade promises a revolution in wallet functionality. Get insights on the debate surrounding its groundbreaking features and their potential impact on the Ethereum ecosystem.