From the point of view of technical analysis, the rebound of the Bitcoin It is framed in a consolidation movement between US $ 45,000 and US $ 50,000, which has the potential to be prolonged over timeaccording to Oanda analyst Edward Moya. However, the expert warns that the cryptocurrency is not out of danger of piercing US $ 44,000, which would precipitate further falls towards the area of US $ 41,000-US $ 41,500, he indicates. José María Rodríguez, technical analyst at Bolsamanía.
According to Forbes, last week’s crash wiped out about $ 300,000 from the combined market for Bitcoins and cryptocurrencies, which currently hovers around $ 2.1 trillion.
Now, the data has revealed that the reserves in the crypto brokers of Bitcoins, that is, the amount of bitcoins on Coinbase, Binance and other similar platforms has fallen to a lower level than in November last year, when the price of the currency began its huge bullish rally that peaked at almost $ 65,000 in April.
This data is contrasted with the activity of the so-called ‘whales’, which has rebounded. The volume of transactions over $ 10 million has increased significantly over the weekend indicating deep market movements, explained analysts at the Belobaba Fund. At the same time they maintain: “An increase in the flow of capital towards the exchange platforms is not seen, which is always a first step to see large movements, which makes us think that we are not yet in the moment or in the necessary disposition to see a new ‘bull-run’ ”.