Large Whales Begin to Accumulate BTC After a Long-Term Distribution

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As of now, more than 37,000 BTC have been added to the large whales in the market. “Large whales” is a term typically used to refer to addresses holding more than 1000 BTC. According to the on-chain analysis by Santiment, all the Bitcoin holder groups, including the large whales, have begun to accumulate bitcoins in the past few days.

The three groups mostly used to determine the market’s sentiment are the 10 to 100 BTC holders (sharks), the 100 to 1000 BTC holders (small whales), and the 1000 to 10000 BTC holders (large whales). It is worth noting that, among every other group, these large whales had been selling until recently. Now that all these groups are accumulating together for the first time in a long time, there seems to be light at the end of the tunnel for Bitcoin holders.

Key Bitcoin Levels To Watch – January 15

The market is currently in the daily bearish order block. The market structure remains intact in the bearish market order flow until the previous high created at the $21478.80 price level is broken. The massive rally was due to the breakout from the consolidation zone below the 17494.40 price level.
Large Whales Begin to Accumulate BTC After a Long-term DistributionMore buy orders were expected as prices broke out and invalidated the resistance. However, the bullish order flow has yet to be confirmed. As the price leaves the oversold region, as indicated by the Relative Strength Index (RSI), the bearish market may resume.

Bitcoin Key Levels

Resistance Levels: $25214.60, $22800.00, $21478.80
Support Levels: $18385.40, $17494.40, $15460.00

Total Market Capitalization: $971.55B
Bitcoin Market Capitalization: $401.12B
Bitcoin Volume: $23.75B
Market Rank: #1

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.