Bitcoin

Coin

<ul class="news-points"> 
 <li>Whales and short-term holders are selling BTC and taking profits from the sales.</li> 
 <li>The support at $33,698 could prevent another 10% to 15% plunge in the coin price.</li> 
 <li>The A/D line points to a potential revival, and traders are taking position.</li> 
</ul> 
Following a tremendous increase that pushed <a href="https://coinedition.com/bitcoin-40-48k-in-view-as-nupl-heads-to-orange-in-four-to-six-weeks/">Bitcoin (BTC)</a> above $35,000, the coin could be getting set for a halt on the rally. This October, BTC gained almost 30%, ensuring that the Year-To-Date (YTD) performance was almost at a 100% hike.&nbsp; 
However, Julio Monero, who is the head of research at CryptoQuant noted that it could take some time before BTC gets back to $35,000. Monero, backed this inference up by, showing how Short-Term Holders (STHs) have been increasingly selling some of their coins for profits lately. 
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 After the recent <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> price rally we can see two interesting developments On-chain: – Short-term holders are "selling" at the highest profit margin since April. – Whales are "spending" at the highest level since June. This could be consistent with a pause in the rally. <a href="https://t.co/aaoVhCotWl" target="_blank" rel="nofollow">pic.twitter.com/aaoVhCotWl</a>— Julio Moreno (@jjcmoreno) <a href="https://twitter.com/jjcmoreno/status/1717993008820371788?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 27, 2023</a>
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Why Bitcoin Traders Should Watch Out for the $33,698 Support

Coin Edition

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