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>>Large Bitcoin holders are showing continued optimism as the price approaches $163,000 – here’s what’s happening.

Large Bitcoin holders are showing continued optimism as the price approaches $163,000 – here’s what’s happening.

crypthub

3 days ago

Bitcoin's Price Fluctuations

Bitcoin started October strongly, reaching a new all-time high around $126,000. Recent tariff threats from President Trump caused a sharp price drop to approximately $101,000. Despite this volatility, Bitcoin's value currently stands at $110,517, down nearly 8.36% in 24 hours. Overall market conditions and technical levels will likely influence Bitcoin's future trajectory.

Whale Activity and Exchange Ratio

Data analysis of Bitcoin whale activity, measured by the Exchange Whale Ratio (EWR), reveals stability despite price dips. The EWR, tracking inflows from the top 10 largest Bitcoin addresses, currently remains around 0.3. This low level suggests a "neutral to supportive" stance from major holders and minimal selling pressure. Historical patterns show low EWR values often precede bullish runs.

Future Outlook and Potential Resistance

A rising EWR could signal increasing selling pressure and a potential market top. Conversely, a decreasing EWR would strengthen the current bullish outlook, reinforcing major holders' confidence. PelinayPA predicts sustained low EWR values could push Bitcoin towards a $163,000 range. Psychological resistance may lead investors to take profits around the $150,000 level.