Santiment claimed in a tweet that the difficult previous week in the market wasn’t the fault of BTC sharks and whales.
The tweet further stated that huge Bitcoin addresses have recently bought $821.5 million worth of BTC back.
The value of BTC has increased by more than 3% over the past 24 hours.
The crypto market’s difficult week was not caused by Bitcoin (BTC) sharks and whales, according to a tweet from the blockchain analytics firm Santiment (@santimentfeed) this morning. According to the tweet, addresses holding 10 to 10k Bitcoin have accrued a total of $821.5 million during this very minor drop.
According to Coin Market Cap, the value of Bitcoin has increased by more than 3% during the last day. Despite the 24-hour increase in BTC’s value, the market leader’s weekly performance remains negative at -8.06%. At the time of publication, Bitcoin is valued $20,568.31.
The daily trading volume for BTC has also increased 9.18% over the past 24 hours and is currently at $39,550,890,661.
Based on the daily chart for BTC/USDT, the value of BTC is still trading below the 9-day and 20-day EMA lines despite having fallen below the 2 EMA lines on March 3, 2023. BTC’s value attempted a restoration to the 9-day EMA line after dipping under the two EMA traces, but the transfer was halted in its tracks.
This caused BTC’s value to decline under the crucial $21,600 level in the direction of the following crucial support level at $19,800. Fortunately, the downward movement formed a top soon after it crossed the $19,800 level yesterday, dropping to a low of $19,549.09.
The value of BTC was then able to close yesterday’s trading session again above the range at $20,150.69. BTC’s value was able to reach a daily high of $20,686.51 due to a large volume of purchases that entered the market at once. BTC’s value has since retraced to its current level after reaching its current high.
