- Bitcoin jumped 7.4% in just 12 hours.
- Whale activity indicates a bullish recovery.
Bitcoin (BTC) just jumped 7.4% in the last 12 hours. This sudden move has everyone wondering if this is the start of something bigger?
Bitcoin whales eye $57,000
AMBCrypto’s analysis of Coinglass data shows that the major players are hovering around $57,100. When whales move, the market tends to notice. This price level could be where the next big push or pullback occurs.
The concentration of whale activity at this level is crucial. It suggests a potential accumulation zone or a level where large holders might be looking to dump their stocks. Either way, this is a price level worth considering.
Source: Coinglass
Big money versus small money
According to Hyblock data, the whale-to-retailer ratio is 49.15. This means that retail traders are slightly outweighing whales at the moment.
This is a fairly balanced distribution, which could lead to an interesting tug-of-war between whales and retail investors.
This quasi-equilibrium state often precedes major market moves. If retail traders start accumulating or whales make a coordinated move, we could see a sharp breakout in either direction.
Source: Hyblock
Long/Short Positions with Uptrend
AMBCrypto’s deeper analysis of Coinglass data shows that the long/short ratio is actually bullish. Despite some imbalance in the market, more investors are positive about further price gains.
This correlation with the recent rise in prices could fuel further upward momentum.
The bullish long-to-short ratio suggests growing confidence among traders. It indicates that many are positioning for a continued upside outlook, which could become a self-fulfilling prophecy if enough buyers step in.
Read Bitcoin (BTC) Price Prediction 2024-2025
What’s next for Bitcoin?
The rise in Bitcoin price is turning heads, which is positively correlated with whale buy orders. Whales are active, but many traders remain skeptical. This shock could lead to dramatic price swings.
Investors should keep an eye on the $57,000 level. If Bitcoin breaks above it, we could see further upside.