Image default
BitcoinBlockchainBTCCRYPTOCRYPTOCURRENCIESINVESTMENTPRICE ACTION

Buying Pressure on Bitcoin Dwindles as more BTC Moving to Exchanges

Bitcoin’s bearish momentum continues, provided that the main cryptocurrency slipped under $19,000 amid shopping for stress shrinking.

Market analyst Ali Martinez pointed out:

“Bitcoin shows no signs of buying pressure from miners and whales! Addresses holding 1,000 BTC or more have remained pretty much flat since August, while miners’ reserves have found a floor of around 1.86 million BTC.”

Image

Source: Glassnode

With shopping for stress being a stepping stone towards a bullish run, BTC wants this trait to kickstart an uptrend. 

On the opposite hand, more BTC has been shifting to crypto exchanges, signifying the emergence of promoting stress. Crypto perception supplier Santiment disclosed:

“1.69M total Bitcoin (currently the equivalent of $33.5B) was moved to exchanges from September 7th to 13th. This was the highest amount of BTC moved since October, 2021.”

Image

Source: Santiment

Whenever coins are transferred to crypto exchanges, this often exhibits that promoting stress could be build up as a result of coins are moved from chilly storage and digital wallets for liquidation functions.

For occasion, lengthy liquidations hit $29 million in a span of quarter-hour. Market perception supplier On-Chain College stated:

“$29 million in Bitcoin long liquidations in 15 minutes as price drops below $19k.”

Image

Source:Coinglass/On-ChainCollege

Bitcoin was down by 7.96% within the final 24 hours to hit $18,447 throughout intraday buying and selling. With rising international financial tightening and regulatory issues, it stays to be seen how the highest cryptocurrency performs out within the quick time period. 

For occasion, buyers are getting ready for volatility due to the foremost interest-rate hike, which is anticipated this week from the Federal Reserve (Fed) to combat price pressures. 

Image supply: Shutterstock

Related posts

Rich Dad Poor Dad Author Says Russia-Ukraine War Making Crypto a Better Safe Haven Than Fiat Currencies

Crypto Advisor

On-Chain Analyst Willy Woo Says Bitcoin’s ‘Last Cycle’ Playing Out As BTC Gets Aggressively Accumulated

Crypto Advisor

82% Ethereum Holders Still in Profitability Despite Price Slipping Below $4,000

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 20,261.43 3.75%
ethereum
Ethereum (ETH) $ 1,357.90 2.81%
tether
Tether (USDT) $ 1.00 0.04%
usd-coin
USD Coin (USDC) $ 1.00 0.18%
bnb
BNB (BNB) $ 295.42 2.95%
binance-usd
Binance USD (BUSD) $ 1.00 0.13%
cardano
Cardano (ADA) $ 0.435389 2.01%
xrp
XRP (XRP) $ 0.475362 4.36%
polkadot
Polkadot (DOT) $ 6.47 1.94%
solana
Solana (SOL) $ 34.36 4.32%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 5.09%
dogecoin
Dogecoin (DOGE) $ 0.065023 8.36%
staked-ether
Lido Staked Ether (STETH) $ 1,351.28 2.95%
matic-network
Polygon (MATIC) $ 0.841667 3.66%
tron
TRON (TRX) $ 0.06259 2.26%
dai
Dai (DAI) $ 1.00 0.20%
avalanche-2
Avalanche (AVAX) $ 17.39 1.47%
ethereum-classic
Ethereum Classic (ETC) $ 27.89 1.87%
leo-token
LEO Token (LEO) $ 4.19 0.02%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 20,270.43 3.79%
uniswap
Uniswap (UNI) $ 6.65 0.13%
litecoin
Litecoin (LTC) $ 54.99 1.62%
cosmos
Cosmos Hub (ATOM) $ 13.01 1.48%
okb
OKB (OKB) $ 15.71 1.67%
ftx-token
FTX (FTT) $ 25.04 1.49%
terra-luna
Terra Luna Classic (LUNC) $ 0.000311 0.91%
near
NEAR Protocol (NEAR) $ 3.63 2.42%
chainlink
Chainlink (LINK) $ 7.79 4.81%
crypto-com-chain
Cronos (CRO) $ 0.111044 1.79%
monero
Monero (XMR) $ 147.10 3.37%
stellar
Stellar (XLM) $ 0.11806 1.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 122.71 5.94%
algorand
Algorand (ALGO) $ 0.356292 1.35%
flow
Flow (FLOW) $ 1.71 2.39%
vechain
VeChain (VET) $ 0.023911 1.93%
eos
EOS (EOS) $ 1.20 1.98%
internet-computer
Internet Computer (ICP) $ 6.13 2.33%
filecoin
Filecoin (FIL) $ 5.60 1.83%
chain-2
Chain (XCN) $ 0.073216 2.97%
frax
Frax (FRAX) $ 1.00 0.25%
hedera-hashgraph
Hedera (HBAR) $ 0.058324 1.37%
decentraland
Decentraland (MANA) $ 0.711555 2.38%
apecoin
ApeCoin (APE) $ 5.25 1.11%
the-sandbox
The Sandbox (SAND) $ 0.862488 3.84%
tezos
Tezos (XTZ) $ 1.46 1.84%
quant-network
Quant (QNT) $ 140.64 0.42%
axie-infinity
Axie Infinity (AXS) $ 12.93 2.02%
aave
Aave (AAVE) $ 78.63 3.94%
lido-dao
Lido DAO (LDO) $ 1.56 3.03%
elrond-erd-2
Elrond (EGLD) $ 55.26 4.75%
theta-token
Theta Network (THETA) $ 1.08 2.12%
true-usd
TrueUSD (TUSD) $ 1.00 0.12%
chiliz
Chiliz (CHZ) $ 0.217892 0.09%
bitcoin-sv
Bitcoin SV (BSV) $ 49.45 2.80%
compound-usd-coin
cUSDC (CUSDC) $ 0.022672 0.02%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.00%
kucoin-shares
KuCoin (KCS) $ 9.18 0.36%
bittorrent
BitTorrent (BTT) $ 0.00000079000667 1.14%
ecash
eCash (XEC) $ 0.000042 3.30%
the-graph
The Graph (GRT) $ 0.101408 3.35%
iota
IOTA (MIOTA) $ 0.281662 1.42%
zcash
Zcash (ZEC) $ 56.76 1.52%
huobi-btc
Huobi BTC (HBTC) $ 20,293.44 4.27%
usdd
USDD (USDD) $ 1.00 0.18%
huobi-token
Huobi (HT) $ 4.11 1.85%
evmos
Evmos (EVMOS) $ 1.45 7.10%
havven
Synthetix Network (SNX) $ 2.34 2.86%
cdai
cDAI (CDAI) $ 0.022118 0.14%
maker
Maker (MKR) $ 841.91 4.01%
bitdao
BitDAO (BIT) $ 0.483583 0.57%
klay-token
Klaytn (KLAY) $ 0.191071 0.73%
neutrino
Neutrino USD (USDN) $ 0.975371 0.33%
fantom
Fantom (FTM) $ 0.227987 2.04%
compound-ether
cETH (CETH) $ 27.22 2.63%
neo
NEO (NEO) $ 8.93 2.61%
helium
Helium (HNT) $ 5.33 10.10%
gatechain-token
Gate (GT) $ 4.40 2.20%
defichain
DeFiChain (DFI) $ 0.707532 3.16%
radix
Radix (XRD) $ 0.060187 2.75%
celsius-degree-token
Celsius Network (CEL) $ 1.36 2.41%
pax-gold
PAX Gold (PAXG) $ 1,715.69 1.38%
pancakeswap-token
PancakeSwap (CAKE) $ 4.80 4.79%
thorchain
THORChain (RUNE) $ 1.64 1.74%
osmosis
Osmosis (OSMO) $ 1.10 0.45%
zilliqa
Zilliqa (ZIL) $ 0.03188 2.02%
enjincoin
Enjin Coin (ENJ) $ 0.459246 1.94%
nexo
NEXO (NEXO) $ 0.898068 3.45%
arweave
Arweave (AR) $ 9.64 2.00%