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B3bit

06/20 02:49Bullish

Is Bitcoin stabilizing? What to expect as whales

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Is Bitcoin stabilizing? What to expect as whales control 35.84% of BTC’s supply The Bitcoin [BTC] recovery in March and April restored some positive sentiment in the market, but the retracement below $60k in early June dented this optimism once again. The $60k-$70k was a key demand zone, both from a technical standpoint and based on on-chain metrics’ findings. AMBCrypto reported that 20% of the BTC circulating supply has changed hands within this key structural support zone. It was argued that this was one of the largest transfers from weak to strong hands in Bitcoin’s history.
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