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COINTURK NEWS > Bitcoin News > Big Players Influence Bitcoin Prices with Strategic Moves
Bitcoin News

Big Players Influence Bitcoin Prices with Strategic Moves

In Brief

  • Bitcoin price fluctuations attract major players into the market.

  • Whale accumulation stabilizes Bitcoin prices above key levels.

  • Market uncertainty prompts cautious behavior among investors.

İlayda Peker
İlayda Peker 5 months ago
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Recent fluctuations in Bitcoin $105,345 prices have prompted significant activity from major players in the market. On-chain data reveals that 135 new wallets holding over 100 BTC were opened in February. Following a drop to $90,000 at the start of the week, Bitcoin quickly surged to $100,000, likely influenced by whale purchases.

Contents
Whale Accumulation and Market CorrectionsSupport Levels and Analyst Insights

Whale Accumulation and Market Corrections

The volatility in the cryptocurrency market and fears of trade wars have mobilized large investors. According to Santiment data, while the number of strong wallets has increased, the number of wallets holding less than 100 BTC has decreased. This trend indicates that major investors are taking a dominant role in the market.

Glassnode data shows that approximately 200,000 BTC were purchased at the $97,500 level. This accumulation has helped maintain Bitcoin’s price above $97,500. Glassnode stated, “This strong accumulation is stabilizing BTC prices at the $97,500 level, significantly above the short-term investor cost. Levels below $97,500 pose risks by increasing unrealized losses.”

Support Levels and Analyst Insights

Technical analysis reports indicate an increase in 24-hour liquidations and a drop in daily trading volume, causing anxiety in the market. The 35% drop in trading volume and rising liquidations create uncertainty, leading to cautious behavior among investors.

Moreover, reports suggest that Spot Bitcoin ETF entries have resumed, triggering activity in the European market, particularly after last year’s successes in the United States. The interest from large institutional investors supports optimistic expectations for the market.

Overall assessments suggest that the active role of major investors is crucial in maintaining Bitcoin prices at current levels. Closely monitoring market data can create both risks and opportunities for investors.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 6 February, 2025 - 10:05 am 6 February, 2025 - 10:05 am
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