{"id":1885,"date":"2022-02-01T07:03:53","date_gmt":"2022-02-01T07:03:53","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=1885"},"modified":"2022-02-01T07:03:54","modified_gmt":"2022-02-01T07:03:54","slug":"bitcoin-btc-jumps-at-monthly-close-altcoins-recover","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-jumps-at-monthly-close-altcoins-recover\/","title":{"rendered":"Bitcoin (BTC) Jumps at Monthly Close, Altcoins Recover"},"content":{"rendered":"\n<p><a href=\"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-above-37k-another-dip-possible\/\">Bitcoin (BTC) only managed to recover<\/a> to $38,000, while sparking some fears of another \u201ccrypto winter\u201d of undetermined length. The last period of sliding prices and no significant rallies continued for nearly three years with significant slides. One of the hopes is for a faster recovery to $41,000 and a new rally, but another downward move remains a possibility.<\/p>\n\n\n\n<p>This time, the list of addresses with 100 BTC diminished again to levels not seen since September 2021. The number of wallets with over 100 BTC diminished to the lowest level in five years, signaling a potential bear market.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> Number of Addresses Holding 100+ Coins just reached a 5-year low of 15,829<br><br>Previous 5-year low of 15,832 was observed on 12 September 2021<br><br>View metric:<a href=\"https:\/\/t.co\/ceqO9LHIvs\">https:\/\/t.co\/ceqO9LHIvs<\/a> <a href=\"https:\/\/t.co\/2EQcYhRofj\">pic.twitter.com\/2EQcYhRofj<\/a><\/p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1488169054296805381?ref_src=twsrc%5Etfw\">January 31, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The indicator coincided with recent inflows of coins on exchanges, with the potential for an ongoing price slide.<\/p>\n\n\n\n<p>Smaller retail wallets with between 10 and 100 coins also decreased in number, as well as small retail wallets with less than 1 BTC.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udcc9 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> Number of Addresses Holding 10+ Coins just reached a 6-month low of 146,803<br><br>Previous 6-month low of 146,818 was observed on 13 September 2021<br><br>View metric:<a href=\"https:\/\/t.co\/0NzRiyaeFg\">https:\/\/t.co\/0NzRiyaeFg<\/a> <a href=\"https:\/\/t.co\/4b2DEJaxX4\">pic.twitter.com\/4b2DEJaxX4<\/a><\/p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1488138918927257602?ref_src=twsrc%5Etfw\">January 31, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>At the same time, wallets older than one year keep holding onto the coins, with growth in coins unmoved for 1-2 years, which are still hypothetically in the money. So far, the behavior of BTC retains the trend of performing the biggest price moves within a short time frame, and spending most time sliding or moving sideways.&nbsp;<\/p>\n\n\n\n<p>The wallet statistics arrive at a time when some prediction charts suggest it may be time to actually buy new coins. Little is known about corporate buyers, who continued to acquire coins at higher prices. There are also signs of dedicated holders not affected by the short-term fluctuations. At the same time, long-term whale buying is still happening, with accumulation on some anonymous wallets.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Did you stack stats today?<br><br>This guy bought $10.5 million <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> today, after buying $10 million yesterday.<br><br>From zero in November to 28,455 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/Mxs67Mem1m\">pic.twitter.com\/Mxs67Mem1m<\/a><\/p>&mdash; C15Capital (@Capital15C) <a href=\"https:\/\/twitter.com\/Capital15C\/status\/1487796655139303426?ref_src=twsrc%5Etfw\">January 30, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Buying and selling inflows can change within days, and can be only a sign of short-term profit-taking.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"btc-trades-on-decreasing-leverage\"><strong>BTC Trades on Decreasing Leverage<\/strong><\/h3>\n\n\n\n<p>Both physical ownership and leveraged trading for BTC is growing tentatively, and actually diminishing on some exchanges like Kraken. For other markets, leveraged trading is picking up slowly.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> Big open interest increase in this range. (Top 3 lines: Orange Bybit, Blue FT, Green Binance). Wil most likely act as significant support or resistance when BTC price breaks up or down. <a href=\"https:\/\/t.co\/ubdnrRjZeu\">pic.twitter.com\/ubdnrRjZeu<\/a><\/p>&mdash; Eagle\ud83e\udd85 (@CryptoEagle10) <a href=\"https:\/\/twitter.com\/CryptoEagle10\/status\/1487226909553750016?ref_src=twsrc%5Etfw\">January 29, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Leveraged trading can exaggerate price moves in both directions. The short-term expectation for BTC is to reach above $40,000 and possibly end the downward trend. A more prolonged \u201ccrypto winter\u201d scenario is also possible.&nbsp;<\/p>\n\n\n\n<p>The current price action has not reflected the Chinese New Year event as in previous years. One of the reasons is that traders from mainland China were already expelled from major exchanges, which remained open to international traders.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"btc-monthly-close-to-set-trend\"><strong>BTC Monthly Close to Set Trend<\/strong><\/h3>\n\n\n\n<p>The BTC monthly close was expected to give some direction to the market. Some predictions envision a further slide, as low as $30,000.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24Btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$Btc<\/a> 4h<br>Broke the trendline to the downside.<br>Right before the monthly &amp; weekly close.<br>I think we will see a spike down to 31.8k or 30K into the new month before wo go up in feb for a major correction. They want to create full panic mode soon &amp; mislead retail traders imo. <a href=\"https:\/\/t.co\/5KyowlrdkC\">pic.twitter.com\/5KyowlrdkC<\/a><\/p>&mdash; SB INVESTMENTS (@BONTESA_) <a href=\"https:\/\/twitter.com\/BONTESA_\/status\/1487901105291997190?ref_src=twsrc%5Etfw\">January 30, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>More dramatic predictions see BTC in a bear market in the coming year, instead of the previous expectations for a short backtrack and a new price high above $70,000.&nbsp;<\/p>\n\n\n\n<p>Pessimistic predictions may also continue to affect altcoins, which remain more risky for heavy losses in a bear market.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Altcoins look even worse than <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>. With the Bitcoin dominance forming a triple bottom, and the OTHERS (altcoins) chart wanting to retest the range low, it wouldn&#39;t surprise me to see a 50% drop in altcoins in the next few days.<br><br>Stay safe. <a href=\"https:\/\/t.co\/ED9jypqBAq\">pic.twitter.com\/ED9jypqBAq<\/a><\/p>&mdash; il Capo Of $NOIA (@CryptoCapo_) <a href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1487720932659638276?ref_src=twsrc%5Etfw\">January 30, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>So far, the price drop has left BTC with market cap dominance of 42.1%, a slight advantage to altcoins.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"will-eth-2-0-arrive\"><strong>Will ETH 2.0 Arrive<\/strong><\/h3>\n\n\n\n<p>One of the hopes for 2022 is that Ethereum will continue to grow, possibly launching as ETH 2.0. The <a href=\"https:\/\/tradersofcrypto.com\/coins\/ethereum\/\">ETH 2.0 smart contract<\/a> has now locked in more than 9M tokens, and continues to accept deposits, which cannot be withdrawn before the network launches.\u00a0<\/p>\n\n\n\n<p>Deposits also accelerated in the past few weeks.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udcc8 <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> New Value Added to the ETH 2.0 Deposit Contract just reached a 1-month high of 14,400 ETH<br><br>Previous 1-month high of 8,928 ETH was observed on 14 January 2022<br><br>View metric:<a href=\"https:\/\/t.co\/FKx2aZYB22\">https:\/\/t.co\/FKx2aZYB22<\/a> <a href=\"https:\/\/t.co\/9MUaSIxfDv\">pic.twitter.com\/9MUaSIxfDv<\/a><\/p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1485285087709179912?ref_src=twsrc%5Etfw\">January 23, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>But there are some rumors Ethereum developers may be unable to launch the staking network as a complete product. One of the options is to introduce some form of staking-based verification with passive rewards.&nbsp;<\/p>\n\n\n\n<p>For now, the ETH 2.0 contract still takes away about 9% of all supply from the market. An additional 1.7M ETH has been burned as fees since August 2021.&nbsp;<\/p>\n\n\n\n<p>ETH has lost some of its dominance, taking up 17.2% of the entire crypto market capitalization. The asset stabilized above $2,700 with some signs of slowing miner revenues.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"altcoins-recover-faster\"><strong>Altcoins Recover Faster<\/strong><\/h3>\n\n\n\n<p>Despite the shakedown, altcoins still recover relatively fast. Terra (LUNA) returned above $50 after losses linked to Wonderland DeFi.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/tradersofcrypto.com\/news\/why-ftx-token-ftt-defies-the-market%ef%bf%bc\/\">FTX Token (FTT), the native asset of the FTX Exchange<\/a>, was also among net winners, trading above $43. The FTX exchange remains one of the growing markets for international traders, building up significant BTC derivative trading liquidity.<\/p>\n\n\n\n<p>The Sandbox (SAND) was among the big winners, adding more than 40% in a single week. The game token returned close to its usual level around $4. The Sandbox has built one of the most prominent blockchain-based games with a metaverse world of blocks and digital land plots. The Sandbox is also the source of NFT items, and hopes to release a public beta of its game. The Sandbox aims to take a cut from demand for Minecraft-like games, and so far the SAND token reflects the success.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) recovered above $38,000 at monthly close for January. The possibility of a bear market is not so distant, with questions on how long the stagnation would continue.<\/p>\n","protected":false},"author":3,"featured_media":1886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[12,6,426],"class_list":["post-1885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-btc","tag-eth","tag-sand","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=1885"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/1886"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=1885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=1885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=1885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}