{"id":150461,"date":"2021-01-09T03:15:00","date_gmt":"2021-01-09T00:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-volatility-spikes-as-btc-whales-sell-each-new-high\/"},"modified":"2021-01-09T03:15:00","modified_gmt":"2021-01-09T00:15:00","slug":"bitcoin-price-volatility-spikes-as-btc-whales-sell-each-new-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-volatility-spikes-as-btc-whales-sell-each-new-high\/","title":{"rendered":"# Bitcoin price volatility spikes as BTC whales sell each new high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a24136666faa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a24136666faa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-volatility-spikes-as-btc-whales-sell-each-new-high\/#Where_could_Bitcoin_go_from_here\" >Where could Bitcoin go from here?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price volatility spikes as BTC whales sell each new high <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin price has re-established the $40,000 level as support but as bull push toward a new all-time high the possibility of another sharp sell-off looms.<\/p>\n<p>According to analysts at Material Indicators, a crypto analytics company, mega-whales sold off steeply when Bitcoin hit $40,000 on Jan. 7. This led to a quick 10% drop to the $36,000 area over the next few hours.<\/p>\n<p>The dip was quickly bought up, eventually pushing the price above $41,000 in the next 12 hours. However, BTC saw another large drop after setting another all-time high at $42,000, and at the time of writing the top-ranked digital asset is trading at $40,800. According to Material Indicators:<\/p>\n<blockquote><p>\u201cSo, it looks like mega-whales started selling after that dump at around 2am UTC, and continued selling on the spikes. My guess is they expected more downside. They did not really participate in the rally back up to 42k, which would further support that point.\u201d<\/p><\/blockquote>\n<p>In the most recent pullback from $42,000 to $40,000, Fred explained that smaller whales, who hold $100,000 to $1 million, began to take profit. He noted:<\/p>\n<blockquote><p>\u201cHowever, now, they have started buying again. Presumably to break the 42k resistance. Only this time, it seems to be the normal whales ($100k &#8211; $1M class) who started taking profit.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/8c2e5d25-d63e-4b64-a423-80ca9b663fb2.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin heatmap. Source: Material Indicators<\/em><\/figcaption><\/figure>\n<p>Considering that at times during the last week Bitcoin price has traded higher on Coinbase, it is clear that there is large buyer demand coming from the U.S.<\/p>\n<p>This suggests that there is a battle between normal whales taking profit and new buyers in the U.S. market. The sharp rejections from each new all-time high also signals that whales may be aggressively taking profit as soon as Bitcoin hits a new record high<\/p>\n<p>As such, it is important that the demand for Bitcoin from the U.S. is sustained in the near term. Otherwise, the high level of selling pressure from whales could cause BTC to see a correction in the foreseeable future.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_could_Bitcoin_go_from_here\"><\/span>Where could Bitcoin go from here?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin currently has extremely strong technical momentum that continues to drive the price higher. For this reason, traders are reluctant to short it, but some have started to take profits.<\/p>\n<p>In the short term, one concern for Bitcoin is the potential recovery of the U.S. dollar. A pseudonymous trader known as \u201cCantering Clark\u201d pinpointed the rebound of the U.S. dollar and the decline of precious metals. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1347565745476169728\">said<\/a>:<\/p>\n<blockquote><p>\u201cSo the question is, with the $DXY finding a floor surprisingly, and metals responding by getting nuked, does $BTC hold well?\u201d<\/p><\/blockquote>\n<p>The U.S. dollar index (DXY) is hovering at a support level on the monthly chart. Alternative stores of value, like Bitcoin and gold, are priced against the dollar. Hence, if the dollar begins to move upward, the risk of a BTC correction could intensify.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-volatility-spikes-as-btc-whales-sell-each-new-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price volatility spikes as BTC whales sell each new high &#8221; Bitcoin price has re-established the $40,000 level as support but as bull push toward a new all-time high the possibility of another sharp sell-off looms. According to analysts at Material Indicators, a crypto analytics company, mega-whales sold off steeply when Bitcoin hit&#8230;<\/p>\n","protected":false},"author":1,"featured_media":150462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/35c3e60b-2547-49da-b58e-9dea569843b2.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,73785],"class_list":["post-150461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=150461"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/150461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/150462"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=150461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=150461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=150461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}