![Bitcoin [BTC] price breaks short resistance, drives 13% of supply into profit](https://i.headtopics.com/images/2023/1/14/cryptoamb/bitcoin-btc-price-breaks-short-resistance-drives-1-bitcoin-btc-price-breaks-short-resistance-drives-1-1613997565241921545.webp)
Whales’ transaction count for BTC has been on the increase in recent days. 13% of BTC circulating supply is in profit due to a current price move. The price of Bitcoin [BTC] rose over the past five days from 8 January to 12 January. When the market closed on 12 January, the price had increased […]
13% of BTC circulating supply is in profit due to a current price move.rose over the past five days from 8 January to 12 January. When the market closed on 12 January, the price had increased by over 5%.BTC was also making a steady push toward the $19,000 mark at press time. The actions of whales may have caused the recent upswings, and the current surge has turned a portion of the BTC supply into a profit.
The current RSI reading implies a reversal in price was on the cards. As a result, the value of Bitcoin may go down in the next few days.Whales may have caused the recent significant increase in BTC’s price. A chart from Santiment showed that whale transaction activity increased for the first time in two months – over 1,700 Bitcoin transactions worth over $1 million were made daily.
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