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Bitcoin long-term hodlers finally halt selloff as ETH whales accumulate
Table of Contents
Key Takeaways (30s Read)
Long-term Bitcoin holders are halting their selloff, while Ether whales accumulate more holdings. However, the markets remain bearish.
Decrease in Bitcoin Selling Pressure
Long-term Bitcoin holders, known as hodlers, are finally reducing their selling pressure. This cessation of selloff by hodlers may alleviate the risk of further price declines.Ether Whales Accumulating
Simultaneously, Ether whales are increasing their holdings. This behavior may be seen as a bet on future price increases, potentially signaling a positive outlook for traders anticipating a Bitcoin rebound. However, the overall market sentiment remains bearish.Impact on the Overall Market
Given the current circumstances, the Bitcoin market still harbors strong skepticism, indicating that it may take time before it rebounds to previous highs. Investors need to devise strategies that take volatility into account.AI Analyst
AI Opinion
"The cessation of selloffs by long-term Bitcoin holders could positively impact prices in the short term, but the broader market environment remains bearish. The accumulation by Ether whales is good news for investors expecting ETH to soar in the future, but careful consideration of the correlation with Bitcoin is essential. It may take time for the overall market trend to shift. Monitoring price movements moving forward is necessary."
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