The cryptocurrency market is experiencing a surge thanks to rising Bitcoin prices andEthereum's stability. Bitcoin has reached a new record, while Ethereum maintains key support levels.
Bitcoin's Rally After Retail Investors Step Back
Bitcoin reached a price level of $112,152 after a period of low activity from small investors. Data from Santiment indicates that the decline in activity from small wallets led to an influx of big players, which triggered the rally. Occasionally, a similar pattern is observed: when small holders exit the market, large players start to buy actively. This is supported by historical price data.
Bitcoin's Sharp Rise and Ethereum's Support
According to reports from Altcoin Daily, Bitcoin surged to $111,881 from the range of $107,400 to $109,800, indicating significant purchases from large investors. Meanwhile, Ethereum, although less visible amid Bitcoin's activity, is also demonstrating stability, staying above $2,530 with support in the $2,378 - $2,454 range, where almost 70 million ETH was purchased. This level of support may exert pressure on the selling side.
Crypto Market: The Role of Big Players
The current market situation shows that when retail traders exit due to nervousness, long-term holders and big players start to dominate. This phenomenon is observable on both Bitcoin and Ethereum charts. If Bitcoin remains above the $109,800 level and Ethereum can defend the $2,380 zone, we may see further price increases.
The cryptocurrency market continues to evolve, and current conditions suggest potential growth for Bitcoin and Ethereum. Monitoring the activities of large investors and technical support levels will be key to understanding the market's future direction.
