{"id":135966,"date":"2024-08-22T08:00:42","date_gmt":"2024-08-22T05:00:42","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135966"},"modified":"2024-08-21T18:31:18","modified_gmt":"2024-08-21T15:31:18","slug":"here-is-why-a-bearish-bitcoin-trend-is-plausible-according-to-cryptoquant","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/here-is-why-a-bearish-bitcoin-trend-is-plausible-according-to-cryptoquant\/","title":{"rendered":"Here is Why a Bearish Bitcoin Trend is Plausible, According to CryptoQuant"},"content":{"rendered":"
CryptoQuant\u2019s latest weekly update<\/a><\/strong> reveals a notable drop in the 30-day growth rate of Bitcoin held by large investors, plummeting from 6% in February to a mere 1% now. This decline in whale holdings is viewed as a potential sign of weakening market conditions.<\/p>\n The report highlights that historically, a monthly growth rate exceeding 3% in whale assets correlates with rising Bitcoin prices<\/a><\/strong>\u2014a trend that is currently absent. The diminishing interest from major holders might suggest a reduction in Bitcoin\u2019s bullish momentum.<\/p>\n Additionally, CryptoQuant\u2019s \u201capparent demand\u201d metric, which measures the difference between the daily Bitcoin block subsidy and the amount of Bitcoin that has remained unmoved for over a year, shows a sharp slowdown. Apparent demand peaked at 496,000 BTC in January 2024 but has since turned negative, decreasing by 25,000 BTC.<\/p>\n