CoinWorld report: The price of Bitcoin has dropped by over 4% in the past 24 hours, trading within the range of $62,000, with a nearly 5% increase in trading volume, reaching $45 billion. Despite the fact that the whale community is not eager to hoard Bitcoin, a significant whale has purchased 244 bitcoins in the past two days, totaling approximately 915 bitcoins since December 2023. However, the broader market trend indicates liquidation by larger holders and a slowdown in demand. Despite these bearish signals, the derivatives market remains bullish, with the long/short ratio still above 1, indicating optimism for a Bitcoin rebound.

Market Analysis:

BTC: On the 4-hour chart, the price continues to be suppressed by the Bollinger Band's midline, showing a still weak trend.

On the daily chart, the price has broken below the moving average support, indicating a weak trend, with support at 62400 and resistance at 63000.

ETH: On the 4-hour chart, the price continues to be suppressed by the Bollinger Band's midline, showing a relatively weak trend, with support at 3040 and resistance at 3080.

LTC: The price continues to be constrained by the Bollinger Band's midline, showing a weak trend, with support at 76 and resistance at 80.

BCH: The price is constrained by the Bollinger Band's midline, indicating a weak trend, with support at 460 and resistance at 500.

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