Tracking Whales, What This Bitcoin Divergence Could Hint About BTC’s Price

Tracking Whales, What This Bitcoin Divergence Could Hint About BTC’s Price

Bitcoin is trending downside on lower timeframes and seems to hint at future losses. The number one crypto by market cap records a 3% loss in the past week, but there is a potential sign of hope for the bulls.


Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met


At the time of writing, Bitcoin (BTC) trades at $20,000 with a 1% loss in the last 24 hours.


BTC trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview

As a pseudonym trader pointed out, Bitcoin whales are currently buying into BTC’s price action and could be hinting at a future relief bounce. The trader used data provided by Material Indicators to show what the different investors’ classes are doing while BTC records losses.


As seen below, investors with bid orders of about $100,000 (purple in the chart below) have increased their buying pressure as almost every other and smaller investor class sells into this price action. This divergence could hint at a bounce as these BTC w ..

Support the originator by clicking the read the rest link below.