Santiment: “This Will Be a Breaking Sign for Bitcoin”

Struggling to pass the $25,000 resistance level, Bitcoin (BTC) failed to do so and suffered consecutive decreases. BTC, which fell to $ 23,300 before the FOMC minutes, continues to be traded below $ 24,000, although it rises afterwards.

While investors are waiting for the rise in Bitcoin to continue, a new post about the rise of Bitcoin came from the popular on-chain analytics platform Santiment. Stating that Bitcoin fluctuates between 23,000 and 25,000, Santiment said that whale and shark addresses also remained stable.

Comparing the number of addresses holding 1,000 BTC with 10000 BTC with the number of addresses holding a small number of Bitcoin (10-100 BTC with 100-1,000 BTC), Santiment said that the increase in the number of addresses holding 1,000-10,000 BTC would be a breaking sign for Bitcoin. Santiment thinks that the rise in the number of addresses holding 1,000-10,000 BTC could be a bullish sign for Bitcoin as well.

“The amount of shark & whale #Bitcoin addresses are staying flat as the $23k to $25k price range continues. If the 1K-10K $BTC addresses begin to rise the way the 10-100 and 100-1K $BTC addresses have in the past 3 months, it would be a breakout sign.”