Bitcoin looks set to make a comeback after a post-September meltdown, when it was well below its $53,300 level. As usual, this kind of movement gets the adrenaline pumping for small investors. Some are seizing the opportunity to make quick profits. But that’s not all, because big wallets also seem to be moving… for other reasons.
Small Investors Are Getting a Kickstart on Bitcoin
Bitcoin has experienced a flare-up this weekclimbing above $58,000leaving those who had not bet on such a rise in the lurch. Short-term holders, never the last to smell a good deal, thus jumped at the chance to sell nearly 14,816 BTC, a nice jackpot of $850 million.
The analyst Ali Martinez confirms : ” Short-term #Bitcoin holders took advantage of the recent price rally to sell around $14,816 BTC. »
But be careful, because this maneuver by the small carriers was not just a stunt. Several sales peaks were observedespecially on September 9 and 10, where More than 4,000 BTC changed hands. It was at this precise moment that Bitcoin crossed critical thresholds, reinforcing traders' appetite for fast trading.
- September 8: 2,000 BTC sold;
- September 9: more than 4,000 BTC sold;
- September 10: explosion to 14,000 BTC.
Crypto under pressure: Big wallets on the run?
Behind this euphoria of rapid sales, things are not so simple for big wallets. For a month, we have observed a significant decrease addresses holding between $10,000 and $100,000 in Bitcoin (-3.39%), while those holding between 1 and 10 million dollars also fell by 2.83%.
A sign that institutional investors are taking profits on the sly? Maybe. And that’s not all. Despite this surge in Bitcoin, some traders seem skeptical, even anticipating an imminent decline.
Major crypto exchanges like Binance and BitMEX are seeing more and more short positions appear, signaling that Not everyone is convinced by this increase. The feeling of “FUD” (fear, uncertainty and doubt) reigns, but ironically, this could well push prices even higher!
By mid-August, short-term investors were already under pressure, seeing Bitcoin lose nearly 33% of its value.
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