Bitcoin rate fixed above $ 51 as investors are in no hurry to fix profits

Bitcoin continues to hold its $ 51K level reached on Thursday as major players decided to support the New Year rally.

Trading volumes on cryptocurrency exchanges increasedonly slightly compared to previous days, which indicates the absence of market excitement or panic. The consolidation that began after overcoming an important psychological mark was caused by traders partially taking profits and preparing the bulls to reach the next resistance level in the area of ​​$56.8 thousand.

At the time of publication, Bitcoin is trading at $51,101 with a daily gain of 5.35%.

Despite the relative stabilization of the exchange rate,CryptoQuant has warned that another major sell-off is potentially approaching. According to her data, whales began to actively deposit cryptocurrency into their exchange accounts, and the share of their funds in the total incoming flow reached its maximum level for the year. The company's analysts believe that large investors are waiting to reach the top of the current range to take profits.

However manipulations will be ineffective for nowBullish sentiment remains in the market. In addition, cryptocurrency reserves on exchanges continue to melt, and supply is reduced due to the fact that miners are putting aside some of the mined coins, waiting for a new historical maximum. At the moment, they have accumulated more than before the sell-off after BTC reached a record $69 thousand.

The growth of the course is also facilitated by technicalfactors. According to MiningPoolStats, Bitcoin hashrate reached 188.9 EH / s this week. A higher indicator was observed once, when in May 2021 it increased to 209.3 EC / s. At the same time, the annual income of miners exceeded $ 15 billion, which is twice as high as last year.

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