Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin: Analyze why BTC’s peak is further away than expected

2025-05-21

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

2025-05-21

Was the founder of Cardano $ 619 million? Hopkinson makes shocking revelation

2025-05-21
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Smarter athlete data via PSG Labs and Joint Innovation Studio

    2025-05-21

    Sahara AI launches Siwa Testnet to authorize decentralized AI builders

    2025-05-21

    WalletConnect’s Smart Sessions ‘Redefine’ Wallet UX for Future or AI agents: Founder

    2025-05-21

    Adventure Layer is launched as First Gaming L2 on Berachain

    2025-05-20

    Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

    2025-05-21

    JPMorgan Chase CEO warns the stock market witnessing ‘extraordinary amount of complacency’ in the midst of abrupt recovery

    2025-05-21

    Cardano (ADA) in Focus: Can it break this barrier and recover Momentum?

    2025-05-21

    Trader warns Bitcoin (BTC) blinking bearish signal, says gold that steam collects for the next leg up

    2025-05-20

    XRP -Price will still gather here, crypto -veteran Raoul Pal predicts

    2025-05-20
  • Learn

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Here’s what’s keeping Bitcoin below the $30,000-mark
Bitcoin

Here’s what’s keeping Bitcoin below the $30,000-mark

2023-08-13No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • Bitcoin’s price stabilized around $29,000-$30,000 amidst market volatility
  • Seller-taker volume and declining miner revenue surfaced as potential reasons for price suppression

Amidst the backdrop of significant price fluctuations and heightened volatility, Bitcoin [BTC] has ultimately found a point of stability, hovering within the range of $30,000 to $29,000. This recent period of relative calm has prompted speculation among various experts regarding the potential for this subdued volatility to extend over a more prolonged duration.


Read Bitcoin’s Price Prediction 2023-2024


Hike in selling pressure

One noteworthy observation comes from analyst Maartunn at CryptoQuant, who highlighted a significant disparity between Sell Taker Volume and buyer activity. This ongoing discrepancy in trading volumes could lead to sustained downward pressure on the price, thereby preventing a decisive breakthrough above the $30,000-mark.

For context, sell-taker volumes are the ratio of sell volume divided by the buy volume of takers in perpetual swap markets. It reflects the pre-eminence of selling pressure in the market.

The impact of this sustained selling pressure is further underscored by the context of declining miner revenue. In fact, recent data revealed a reduction in miner earnings, with figures dropping from $41 million to $31 million over the last few months. This decline in revenue can potentially incentivize miners to offload their Bitcoin holdings to remain profitable.

Source: BTC.com

Interestingly, despite the challenges posed by reduced miner revenue, other metrics suggested an underlying resilience within the network. Both hashrate and network growth have shown signs of improvement during this period, reflecting the strength of the Bitcoin ecosystem.

Source: BTC.com

Whales show interest

Contrary to these factors, whale behavior indicated a positive future for Bitcoin. For example, Glassnode’s data indicated that the number of addresses holding 10 or more BTC coins recently hit a three-year peak at 157,012.

See also  Bitcoin Rebounds to $96K: On-chain Data Indicates $100K Potential

This uptick in whale activity suggests a growing appetite for Bitcoin accumulation among larger investors.

Source: glassnode

A parallel development involved HODLing behavior observed from BTC addresses. Notably, figures for the amount of HODLed or lost coins achieved a five-year high at press time.

This revealed a propensity among current investors to retain their holdings over an extended period. This behavior also reflected a sense of confidence and long-term conviction in Bitcoin, despite a lack of positive price movement on the charts.


Is your portfolio green? Check out the Bitcoin Profit Calculator


Source: glassnode

At press time, Bitcoin’s price stood at $29,300. Furthermore, the velocity of transactions had fallen, implying a reduction in the frequency of BTC transfers.

Source: Santiment



Source link

30000mark Bitcoin Heres keeping Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin: Analyze why BTC’s peak is further away than expected

2025-05-21

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

2025-05-21

Bitcoin -Posts record daily and weekly closes – is a breakout on your hands?

2025-05-21

South Korea Eyes won -backed stablecoin to curb capital flight -details

2025-05-21
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Ethereum Options Peak: ETH Rises to $3K in December?

2024-09-15

Roblox CEO teases allowing NFTs, offering Elton John capes as an example

2023-11-10

Bitcoin Dominance Drops to 60%: DOGE, XRP to Lead the Altcoin Rally?

2024-11-18
Editors Picks

Bitcoin and Altcoins are ready to “go completely wild with irrational ratings,” says Trader – but there is a catch

2025-02-15

Under-the-Radar Crypto Casino Project Skyrockets 127% in a Week Amid New Updates

2023-05-20

Solar (SOLAR) Price Prediction 2023 2024 2025

2024-01-10

Binance becomes El Salvador’s first licensed crypto exchange amid regulatory struggles worldwide

2023-08-08
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin: Analyze why BTC’s peak is further away than expected

Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

Was the founder of Cardano $ 619 million? Hopkinson makes shocking revelation

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,896.671.96%
  • ethereumEthereum(ETH)$2,549.572.09%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.360.90%
  • binancecoinBNB(BNB)$655.362.05%
  • solanaSolana(SOL)$170.022.56%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2276463.74%
  • cardanoCardano(ADA)$0.764.24%
  • tronTRON(TRX)$0.270556-1.08%
  • suiSui(SUI)$3.912.99%
  • chainlinkChainlink(LINK)$15.831.56%
  • avalanche-2Avalanche(AVAX)$22.853.98%
  • stellarStellar(XLM)$0.2910122.68%
  • hyperliquidHyperliquid(HYPE)$26.632.50%
  • shiba-inuShiba Inu(SHIB)$0.0000152.60%
  • hedera-hashgraphHedera(HBAR)$0.1962061.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.831.30%
  • bitcoin-cashBitcoin Cash(BCH)$398.262.86%
  • the-open-networkToncoin(TON)$3.060.51%
  • polkadotPolkadot(DOT)$4.703.24%
  • litecoinLitecoin(LTC)$95.593.08%
  • moneroMonero(XMR)$364.364.91%
  • bitget-tokenBitget Token(BGB)$5.140.79%
  • piPi(PI)$0.819.39%
  • pepePepe(PEPE)$0.0000148.46%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.277.99%
  • aaveAave(AAVE)$253.62-3.42%
  • bittensorBittensor(TAO)$414.490.18%
  • nearNEAR Protocol(NEAR)$2.823.68%
  • aptosAptos(APT)$5.213.01%
  • okbOKB(OKB)$52.050.45%
  • ondo-financeOndo(ONDO)$0.952.90%
  • kaspaKaspa(KAS)$0.1110681.73%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.478.85%
  • ethereum-classicEthereum Classic(ETC)$18.602.65%
  • internet-computerInternet Computer(ICP)$5.283.42%
  • gatechain-tokenGateToken(GT)$21.641.20%
  • crypto-com-chainCronos(CRO)$0.0964830.89%
  • mantleMantle(MNT)$0.740.55%
  • vechainVeChain(VET)$0.0285874.26%
  • render-tokenRender(RENDER)$4.703.09%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2331962.99%
  • ethenaEthena(ENA)$0.3951767.56%
  • usd1World Liberty Financial USD(USD1)$1.000.09%
  • algorandAlgorand(ALGO)$0.2267013.87%
  • arbitrumArbitrum(ARB)$0.4002243.27%
  • cosmosCosmos(ATOM)$4.945.27%
  • bitcoinBitcoin(BTC)$106,896.671.96%
  • ethereumEthereum(ETH)$2,549.572.09%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.360.90%
  • binancecoinBNB(BNB)$655.362.05%
  • solanaSolana(SOL)$170.022.56%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2276463.74%
  • cardanoCardano(ADA)$0.764.24%
  • tronTRON(TRX)$0.270556-1.08%
  • suiSui(SUI)$3.912.99%
  • chainlinkChainlink(LINK)$15.831.56%
  • avalanche-2Avalanche(AVAX)$22.853.98%
  • stellarStellar(XLM)$0.2910122.68%
  • hyperliquidHyperliquid(HYPE)$26.632.50%
  • shiba-inuShiba Inu(SHIB)$0.0000152.60%
  • hedera-hashgraphHedera(HBAR)$0.1962061.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.831.30%
  • bitcoin-cashBitcoin Cash(BCH)$398.262.86%
  • the-open-networkToncoin(TON)$3.060.51%
  • polkadotPolkadot(DOT)$4.703.24%
  • litecoinLitecoin(LTC)$95.593.08%
  • moneroMonero(XMR)$364.364.91%
  • bitget-tokenBitget Token(BGB)$5.140.79%
  • piPi(PI)$0.819.39%
  • pepePepe(PEPE)$0.0000148.46%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • uniswapUniswap(UNI)$6.277.99%
  • aaveAave(AAVE)$253.62-3.42%
  • bittensorBittensor(TAO)$414.490.18%
  • nearNEAR Protocol(NEAR)$2.823.68%
  • aptosAptos(APT)$5.213.01%
  • okbOKB(OKB)$52.050.45%
  • ondo-financeOndo(ONDO)$0.952.90%
  • kaspaKaspa(KAS)$0.1110681.73%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.478.85%
  • ethereum-classicEthereum Classic(ETC)$18.602.65%
  • internet-computerInternet Computer(ICP)$5.283.42%
  • gatechain-tokenGateToken(GT)$21.641.20%
  • crypto-com-chainCronos(CRO)$0.0964830.89%
  • mantleMantle(MNT)$0.740.55%
  • vechainVeChain(VET)$0.0285874.26%
  • render-tokenRender(RENDER)$4.703.09%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2331962.99%
  • ethenaEthena(ENA)$0.3951767.56%
  • usd1World Liberty Financial USD(USD1)$1.000.09%
  • algorandAlgorand(ALGO)$0.2267013.87%
  • arbitrumArbitrum(ARB)$0.4002243.27%
  • cosmosCosmos(ATOM)$4.945.27%