Bitcoin Whales Maintain Positions Amid Price Drops and Tariff Threats
Bitcoin Price and Market Dynamics
- Bitcoin started October with a 12% increase, reaching a new high of $126,100.
- The price fell to around $101,000 after tariff threats from the US President.
- Currently, Bitcoin is valued at $110,517, an 8.36% drop over 24 hours.
Whale Activity and Exchange Whale Ratio (EWR)
- Despite price drops, Bitcoin whales show little exchange activity, indicating confidence.
- The Exchange Whale Ratio (EWR) measures BTC inflows from top addresses to exchanges.
- A high EWR (>0.5) suggests increased sell pressure; a low EWR (<0.3) indicates low whale activity.
- Current EWR remains at 0.3, suggesting whales are holding rather than selling.
Future Outlook for Bitcoin
- Bitcoin's movement will depend on macroeconomic conditions and trader responses.
- An increase in EWR towards 0.5 may signal rising distribution pressure.
- If EWR decreases, it supports the bullish trend, potentially pushing Bitcoin to $163,000.
- Psychological resistance is anticipated around $150,000, where profit-taking might occur.
