According to the latest news, Bitcoin has started the week posting minor losses. On September 14, the largest cryptocurrency by market capitalization is trading at $10,389.09.
Etherum has decreased by 4.64% and settled at $368.95, while XRP has fallen to $0.245 (dipped by 2.58%)
Whalemap analysts have said large amounts of “unspent Bitcoins” are concentrated near the $10,570 and $11,288 mark, stored in wallets with a balance of more than 10,000 BTCs.
It looks like the $10,570 and $11,288 levels will become levels that will prevent the BTC price rise in the short-term. Whales can start making profits at these levels with an upward movement. Moreover, they can also sell their currencies at the specified breakeven levels if the price rise is replaced by a sharp fall.
BTC tried to break the $10,500 barrier yesterday
According to FxPro’s analysts’ team, BTC tried to break the $10,500 barrier yesterday, but it found downward pressure.
The tug-of-war between bears and bulls has made it difficult for the crypto to take a clear direction, which is the reason why it decreased almost 2% at the beginning of the workweek, at around $10,350.
BTC and larger cryptocurrencies’ greed and fear index stay in the ‘fear’ area, accurately reflecting the crypto market participants. Now nobody wants to make unnecessary moves, waiting for new triggers, both from the crypto market as well as from the traditional financial market.
On September 12, the BTC network’s trading volume skyrocketed to $78B, levels that crypto has rarely hit, including the crypto market collapse in March. However, the chart has indicated significantly smoother changes.
According to the data, all currencies on the top 10 are in red. As of the market capitalization of all currencies, it stays at $340,960,048,799.