Analysts name factors hindering bitcoin’s growth

Analysts at research company Santiment believe that the sale of BTC by small traders could have a negative impact on the value of the flagship cryptocurrency.

Santiment experts emphasized that last week, when the value of bitcoin exceeded $ 67,000, wallet holders with less than 0.1 BTC lost most of their assets. Traders are selling BTC en masse, which negatively affects the value of the flagship cryptocurrency. At the same time, the number of crypto wallets with a non-zero balance is decreasing.

According to analysts, crypto whales are buying bitcoins owned by small traders. This is a signal of a future bullish rally in the medium term. However, experts did not provide a forecast of how much the bitcoin rate could rise in the next few months.

As for the main altcoin, according to Coinbase experts, ethereum will remain in the leading positions among DeFi projects in the next few months, and the approval of spot exchange-traded funds on ETH will lead to a significant increase in the asset. on May 23, the decision of the U.S. Securities and Exchange Commission (SEC) on the application from asset manager VanEck will become one of the main factors of pressure on the ethereum rate.