After a sharp decline in September, Bitcoin is back on the rise, triggering action from both small and large investors.
Small Investors Thriving
This week, Bitcoin surged to $58,000, prompting short-term holders to sell nearly 14,816 BTC, amounting to approximately $850 million. Analyst Ali Martinez confirmed, "Short-term holders of Bitcoin took advantage of the recent price increase to sell approximately 14,816 BTC."
Market Volatility
Between September 8 and 10, several significant selling peaks were observed. The most notable were: September 8 - 2,000 BTC sold; September 9 - over 4,000 BTC sold; September 10 - up to 14,000 BTC sold. During these days, Bitcoin crossed critical levels, inducing increased trading activity.
Large Wallets' Activities
While small investors are actively trading, large wallets seem to be adopting a wait-and-see approach. Over the past month, there has been a significant decrease in addresses holding between $10,000 and $100,000 in Bitcoin (-3.39%), as well as those holding between $1 million and $10 million (-2.83%). Leading crypto exchanges like Binance and BitMEX are recording an increase in short positions, reflecting skepticism among large players.
The rise of Bitcoin has led to active trading by short-term investors, while large holders remain cautious. Whether this rise will be sustainable or bring a new wave of volatility remains to be seen.
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