Bitcoin sharks and whales, or addresses that have between 10 to 10,000 BTC, have purchased 83K BTC worth of accumulation in the past 30 days, based on data presented by Santiment. Retail sellers, on the other hand, have sold under 0.1 BTC worth fewer than 387 BTC within the same period. The trend indicates increasing trust in the whales while retail offloads their assets.
Bitcoin Price Nears Key Resistance Levels
Bitcoin is at about $103,722, near significant resistance levels. The first resistance is at $104,780, followed by $106,000, which is equal to higher-degree Fibonacci retracement levels. The previous resistance level before the next all-time high was $109,000, the latest high.
BTC Market Dynamics and Trading Volume
Bitcoin daily turnover has risen from $16 billion to over $27 billion on optimism of a fresh U.S.-U.K. trade deal and expectations of better next-stage U.S.-China trade talks. Volume on Coinbase has fallen even as the price has been rising, which is likely most likely due to defensive buying by longer-term investors.
Robert Kiyosaki Stops Alternative Asset Performance
While Bitcoin is in the limelight, Robert Kiyosaki has been indicating the performance of other assets. Live cattle futures, for instance, have indicated their all-time high price of $216.83 because of a shortage of supply due to farming-related problems. Kiyosaki has also been guiding masses on the basis of cattle, gold, and silver as a hedge against economic risk.
