is bitcoin [BTC] Recent low volatility ‘quiet’ before ‘stormy’ uptrend

Bitcoin [BTC] Investors who have been watching his performance closely over the past few days may see less volatility at the end of September. This may only be a possible outcome due to the uncertainty about how it will perform in October. This performance may actually be similar to the calm before the storm, in which case Bitcoin could be heading for a big move.

One of the main observations supporting Bitcoin’s low volatility includes declining coin flows. Currency inflows and outflows have fallen significantly over the past two weeks, with the same level now near a 4-week low.

Source: Glassnode

Bitcoin’s next move may already be in motion, despite the notable drop in volatility. Currency inflows and outflows ended in September with some variation. Currency outflows increased slightly between September 29-30, while outflows continued to decline. This confirms the marked change in the volume flowing from the exchanges.

The bitcoin exchange balance dropped dramatically over the same two-day period. However, the coin balance meter only recorded around 42,902 BTC outside of exchanges.

Source: Glassnode

The aforementioned amount in BTC is around $825.6 million at price levels at press time. This appears consistent with the likely shift in sentiment observed in favor of the bulls after September 25th.

These observations may indicate that volumes are currently tilting to the upside.

whales moving?

BTC supply distribution metrics also revealed a significant increase in the address balance by between 100,000 and 1 million bitcoins. This episode happened at the end of the month.

Source: feeling

Although some whales recovered during this period, some other classes of whales contributed to the selling pressure. This included whales holding between 100 and 1,000 BTC, as well as those in denominations of 10,000 to 100,000 BTC.

Most whales have reduced their activity, especially on the last day of the month. Some of the biggest titles reduced their balances slightly during this period. This result has contributed to a slight decline over the past three days, but it may be a form of market manipulation.

Therefore, investors should be aware of the possibility of a bear trap in the future.

Source: TradingView

Bitcoin finished September with relative strength higher on the RSI and the MACD flipped above the zero line. These notes are combined with bulls. But these types of price zones are also ideal for election manipulation.

Reduction in deployment time levels will lead to more market research and development. One possible outcome might be higher leverage short positions due to more negative outlook. The whales will then benefit from lower price levels.

Simply put, investors should take into account that the time pressure level for BTC represents a relatively large year-to-date discount.

Leave a Reply

Your email address will not be published. Required fields are marked *