Cryptocurrency analysis companies Alphractal and CryptoQuant made important assessments about the current state of Bitcoin.
While Alphractal noted the difference in short-term liquidation levels between Bitcoin and Ethereum, CryptoQuant said that whales continued to buy despite the weakness in network activity.
In the statement made by Alphractal, it was stated that Bitcoin’s short-term liquidation levels are more pronounced compared to Ethereum. The analysis, which pointed out that Bitcoin accumulated between $ 74,000 and $ 84,000, stated that sudden fluctuations in this $ 10,000 price range could pose a risk for investors.
“The $10,000 price swings that may occur in Bitcoin could cause double-sided liquidations. This could have a ‘ping-pong’ effect within the market,” it was stated.
On the Ethereum side, it was stated that there was a more balanced view in terms of liquidation levels, with both short and long positions seen at equal levels. However, it was stated that the liquidation risk of short positions, which increased around $ 1800, should not be ignored.
On the other hand, CryptoQuant reported that despite low activity on the Bitcoin network and weak individual demand, whale reserves have been increasing in recent weeks. After a pause between December and February, more than 100,000 BTC have been added to large investor wallets since the beginning of March.
The analysis included the following assessment: “The decline in prices did not have a negative impact on the ‘smart money’ that bought in price areas where institutional investors showed interest. While small investors are withdrawing due to uncertainty, big players are turning this situation into an opportunity to cut costs.”
*This is not investment advice.
