bitcoin Whales Begin Selling as Coin Volatility Decreases
H2: A Shift in Market Sentiment
bitcoin whales are beginning to sell off their holdings, indicating their desire to secure profits in the face of recent price consolidation. According to analyst Ali Charts, holders of 100 to 10,000 Bitcoins have collectively sold around $60,000 BTC, which is equivalent to $2.22 billion at current market value. This shift in sentiment is a significant development for the cryptocurrency market.
H2: Decrease in Volatility
When the market rally began in October, the significant surge in bitcoin‘s value caused its price to be prone to swings. However, in the past few weeks, indicators like the Average True Range and the Bollinger Bands have trended downwards, suggesting a decline in price volatility as bitcoin stagnates under $37,000. This decrease in volatility is a positive development for investors and could indicate more stable prices for the cryptocurrency moving forward.
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The narrowing of the distance between the upper and lower bands of bitcoin’s Bollinger Bands indicator, as well as the decline in the Bollinger Bandwidth (BBW) indicator, further confirms that bitcoin‘s price is becoming less volatile. As of November 14th, the coin’s BBW was 0.12, down from 0.37 on November 1st. This decrease in volatility could bode well for bitcoin investors, as it suggests a more stable and predictable market for the cryptocurrency.
### News source: eng.ambcrypto.com