Market Tension Rises as BTC Halving Looms

Crypto News – The Bitcoin market is undergoing a frenzy of activity that could influence its course for months to come, with the halving event just one month away. Important players in the sector have started raising red flags about new developments that could indicate a change in the dynamics of the market.

Market Tension Rises as BTC Halving Looms

The CEO of CryptoQuant, Ki Young Ju, has expressed worries about a discernible increase in selling activity among Bitcoin miners as the impending halving of the cryptocurrency, which is expected to take place between April 17 and April 20, approaches. In fact, Ju said that in just the previous month, miners had sold off over 6,145 BTC, or about $384 million.

On the other hand, on-chain expert Ali Martinez has brought attention to a concerning pattern among Bitcoin whales. According to Martinez’s data, bitcoin owners who own more than 1,000 bitcoins are selling them off more and more; in the previous two weeks, there has been a 4.83% drop in these addresses.

Jan Happel Underlines That BTC Will Not Move In A Straight Line

Significant selling pressure is increased by this noteworthy sell-off by major stakeholders, which could have a negative effect on the price of bitcoin. Glassnode CEO Jan Happel is, in fact, forewarned.

 Nothing rallies in a straight line. Not even BTC.

Happel

He believes that the price of Bitcoin will correct itself and fall to between $59,000 and $58,000. He warns investors that this is a necessary adjustment rather than a sign of a market top.

No moves without a counter-move. And a counter-move seems to be near. We observe negative divergence as BTC has rallied into its highs in a 3-wave structure. Sentiment is hot at 89! It is time for a cooler,

Happel