Bitcoin Dips To Lowest Level Since Dec. 12 Before Bouncing As Buyers Hold $40k Threshold

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Bitcoin slumped to as low as $40,280 on Jan. 19, its lowest level since Dec. 12, 2023, before rebounding to $41,979 after four hours of consistent sell pressure that liquidated most long positions on major exchanges.

As of press time, Bitcoin traded at $41,609 after failing to breach $42,000. Meanwhile, long liquidations stood at roughly $30 million and made up 85% of all liquidations over the period, based on CoinGlass dato.

bro viktigste kryptokurser saw similar price movements and are trading in the red for the day. However, the rebound from a crucial support level indicates resilience as investors continue to buy at that key price level.

Holder 40,000 XNUMX dollar

Bitcoin has held above the $40,000 threshold despite facing significant sell pressure over the past week after spot ETFs for the flagship cryptocurrency were godkjent on Jan. 10, resulting in a “sell the news” event.

De ETF initially caused the price to surge to $49,000 before investors began taking profit on short-term positions, causing the price to dip back to levels seen in mid-December.

Initial speculation blamed the downward pressure on Gråtoner, dumping tens of thousands of its Bitcoin on the market. However, data shows that the nine new ETFs — led by BlackRock and Fidelity — have bought up more Bitcoin than GBTC dumpet.

Basert på tilgjengelige data, Gråtoner has sold roughly 60,000 Bitcoin since the ETF began trading, while the “Newborn Nine” have bought roughly 72,000 BTC over the same period. This means that the downward pressure is unrelated to the ETFs, as the newer issuers seem to be actively holding the $40,000 price line.

The nine newly issued spot Bitcoin ETFs are experiencing sustained interest from investors. BlackRock og Fidelity's ETF have already hit $ 1 milliarder in assets under management, equating to more than 25,000 BTC.

Hvaler tar profitt

Crypto Quant Forskningsleder Julio Moreno sa Salget har hovedsakelig kommet fra kortsiktige handelsmenn som kom i posisjoner spesifikt basert på ETF-godkjenningen for å "kjøpe ryktet" og Bitcoin-hvaler som tok profitt etter et år med gevinster.

Meanwhile, the dynamics between long-term and short-term Bitcoin investors are becoming increasingly distinct, as evidenced by recent market activities, according to CryptoSlate forskning.

Langsiktige eiere - vanligvis de som har holdt Bitcoin i over 155 dager, som inkluderer hvaler - har blitt observert flytte sine eiendeler til børser for å realisere fortjeneste. Denne trenden dukket opp rundt juli 2023, da Bitcoins verdi opplevde et betydelig fall fra $30,000 26,000 til $XNUMX XNUMX.

Nærmere bestemt, den 17. og 18. januar, overførte disse langsiktige investorene anslagsvis 25,000 1 BTC, verdsatt til omtrent XNUMX milliard dollar, til børser, et trekk tolket som å tjene penger på investeringene sine uten å lide tap.

Motsatt har kortsiktige Bitcoin-innehavere, de som holder investeringene sine i mindre enn 155 dager, vist et mer uberegnelig mønster. 18. januar overførte de en betydelig mengde Bitcoin, verdsatt til 2.4 milliarder dollar, til børser med tap.

Dette indikerer et høyere aktivitetsnivå blant disse investorene og redusert fortjeneste. Spesielt ser det ut til at de som hadde håpet å utnytte Bitcoins økning til $49,000 XNUMX allerede har tatt fortjenesten eller står overfor tap.