Silently Waiting to Buy Bitcoin: These Whales Can Continue the Bull Game! - Coin Bulletin

As selling pressure increases in the Bitcoin market, buyers are waiting at depth levels, indicating that prices could rise again in the near future.

According to recent data, large whales continue to patiently wait for the right price to buy Bitcoin. Although the market has seen declines in recent days, this does not mean abandonment.

Hyblock Capital stated in its announcement about the subject, conveying how investors are expecting opportunities as follows:

There was an uptrend at the price level in the order book, but now this trend has turned into a downtrend, indicating selling pressure, which is usually the activity of market makers (MMs). The same action continues from the level between 1% and 2% to the level between 2% and 5%.

After all, it is not surprising that selling pressure has prevailed at these levels following the recent drop in Bitcoin price. Bitcoin has declined from $102,000 to $92,000 in recent days, losing value particularly due to concerns about inflation in the United States.

However, the real story emerged as the upward trend continued in the market depth between 2% and 5%. This indicates that there are more buy orders than sales in the market and buyers are waiting to enter the market at these levels.

Hyblock Capital continued with the following statement:

Increasing demand over time at levels between 1% and 2% and between 2% and 5% (where buy orders exceed sales) is observed.

At the time of writing, Bitcoin was trading at around $94,000, and investors are eagerly awaiting the release of the US non-farm payroll data on Friday to see if it will determine a new direction for risky assets.