Analysis “Increase in the number of large-scale BTC transfers… implying the initiation of buying at the bottom of the buying power”
Coinnis special analyst’Jin’s Crypto’ said, “Since BTC broke below the 30-day moving average, the number of large-scale transfers has increased significantly. This implies that major buyers are jumping into trading to buy the bottom.” Diagnosed.
-From March 23rd, the number of large-scale BTC transfers remained relatively high. Transactions with a size of 100 BTC or more recorded 1,497 as of March 23, followed by 1,230 and 1,748 on March 24 and 25, respectively. Converting this to $530,000, the total amount of large-scale transfers of 100 BTC or more amounted to $7.9 billion, $6.5 billion, and $9.2 billion, respectively.
-On March 25, 9,451 BTC was transferred from the tradable wallet to the outside. Considering that the number of large-scale transfers of more than 100 BTC is increasing, the net outflow of BTC from tradeable wallets such as exchange wallets can be seen as a kind of bullish signal. Therefore, this short-term decline in BTC means that the character of correction was strong, and it means that the bitter sentiment of BTC holding investors was not shaken during the downturn.
-Among the major coins, FIL was the one that showed strong short-term rebound. FIL has been strong for 3 days in a row, and has risen to the 12th place in the market cap based on the current coin market cap. Recently, FIL showed an independent uptrend despite weak BTC and ETH. Therefore, there is a possibility that the market cap TOP10 coin ranking will fluctuate due to the strong FIL.
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