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Why Bitcoin Price Running into Strong Resistance at $23k is Probably a Healthy Prelude to the Next Pump

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On January 22, the leading cryptocurrency, Bitcoin, is trading sideways, with the price remaining within a limited range of $22,500 to $23,350. Bitcoin witnessed a strong rise, which might be attributed to whale activity, public buying, and cryptocurrency’s ability to disrupt financial systems.

After a long period of turbulence, the crypto market’s stability has returned, and many people are now optimistic about the coin’s future.

According to Santiment, the majority of the $1 billion+ accumulation over the last 15 days came from 1-1000 BTC transactions. Furthermore, whales with 1000 – 10,000 BTC holdings accounted for 83% of the accumulation.

Why Bitcoin Holders Are Avoiding Leverage During The Current Rally

According to GlassNode data, the amount of bitcoin held or lost is at a 5-year high. This demonstrates that the price of bitcoin, in particular, has risen dramatically in recent weeks and months. This is also demonstrated by the fact that leverage has decreased. Bitcoin trading is becoming increasingly popular these…

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