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01/10/25 05:19 UTC-04

Bitcoin and Ethereum: Volumes Indicate Asset Redistribution Among Investor Groups

Cryptocurrency Cryptocurrency
Cryptocurrency Bitcoin and Ethereum: Volumes Indicate Asset Redistribution Among Investor Groups

Analysts reminded that on September 25, Bitcoin (BTC) fell to $108,000, triggering a sharp spike in spot volumes. This move marked $108,000 as a potential bottom. Binance was once again the main driver of activity. However, by September 29, as BTC rose to $114,000, volumes surged again but the upward move did not continue. Such scenarios often indicate distribution rather than trend continuation.

Volume data confirm this picture. On September 29, Binance’s spot volume reached $5.494 billion, while other exchanges recorded $6.943 billion. For comparison, on September 27, Binance’s volume was much lower at $2.33 billion, while other platforms saw $2.42 billion. This points to “silent accumulation” over the weekend on low volumes, followed by distribution during the price rally.

This behavior signals the strategy of large traders using liquidity spikes to lock in profits. Binance remains the key indicator of market sentiment, reflecting core investor scenarios.

Amid Bitcoin market activity, Ethereum ended September in a relatively calm zone. According to Binance, the MVRV ratio, which compares market value to realized value, fluctuated between 0.997 and 1.0015. Such a level, close to 1, indicates equilibrium between profits and losses among market participants.

Toward the end of the month, the first signs of short-term profit-taking appeared, but there was no mass selling pressure from long-term investors. New entrants also did not see sufficient gains to trigger significant sales. September’s price decline was more a result of short-term speculation than fundamental changes in the network.

MVRV stability near 1 means that on further declines, buyer interest is likely, while on increases, little resistance is expected until the ratio moves to higher levels. This sets the stage for ETH to gradually move upward in October, provided demand and positive expectations remain intact.

See also: "XRP Breakout? Classic Chart Patterns Align With ETF Growth Ahead of Deadline"

#Bitcoin (BTC) #Ethereum (ETH) #Analitycs

Editor: Pereyidenko Ihor
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