Analysts at Santiment, one of the most popular cryptocurrency analysis companies, have published a new assessment of the status of BTC as Bitcoin Spot ETF expectations continue.
According to analysts, there is a decline in the Bitcoin price with the start of the weekend, and volatility may increase in the coming period as cryptocurrency whale transactions reach their highest level since June 12, 2022.
According to analysts, such situations of increased whale activity usually come just before a breakout in the price cycle.
On June 11 and 12, 2022, as whales entered the race to buy at the bottom, the number of transactions above $ 100,000 peaked and reached 39,033 transactions. Recently, with the number of whale transactions increasing again, the number of transactions reached a peak of 34,874.
In addition, some sudden increases were detected in Bitcoin mining data. According to BTC.com, there was an adjustment to the Bitcoin mining difficulty at block height 824,544, increasing the mining difficulty by 1.5% to 73.2 T, a new record. The hash rate is currently around 541.35 EH/s.
*This is not investment advice.