Bitcoin’s price fell below $77,000 over the weekend, continuing a four-day decline. This has reduced its value by almost 6% in the past week.
At press time, Bitcoin traded at $76,819, down 0.1752% over the past day.
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Bitcoin Loses 6% on Week as Three Bullish Signals Surface
Even though the price of Bitcoin has decreased, there are three encouraging signs. Increasing numbers of Bitcoin wallets, a surprising shift in retail investor behavior, and a strengthening Bitcoin-to-gold ratio all suggest a positive outlook for BTC.
According to data from Santiment, negative comments about Bitcoin are now more frequent than positive ones – something that hasn’t happened since April 21st. Santiment analysts see this as a potential sign that a price increase might be coming, as it often happens when sentiment is very negative.
Historically, when most people are pessimistic about crypto, it often signals a price increase. The current wave of selling by smaller investors, triggered by this small dip, actually suggests a rebound is more likely, even though many are anticipating further losses.
Meanwhile, the number of large Bitcoin holders has increased. There are now 20,229 addresses holding 100 BTC or more, a rise of 11.2% compared to a year ago. Each of these addresses currently controls around $7.7 million worth of Bitcoin.
These wallets are usually owned by organizations like companies, corporate finance departments, and long-term Bitcoin investors. Their consistent buying, even when prices fluctuate, suggests they are optimistic about Bitcoin’s future.
Generally, an increase in the number of Bitcoin wallets holding large amounts (often called ‘whale wallets’) suggests that major Bitcoin investors remain optimistic about its long-term value and limited supply. According to Santiment, this recent growth is particularly interesting because it’s happening even when smaller, individual investors have been feeling uncertain or negative about Bitcoin.
The research company Delphi Digital also pointed out that the ratio of Bitcoin’s price to gold’s price has bounced back significantly, rising 46% from its lowest point in February. It’s currently around 17.6.
Gold’s price has fallen 18% since its highest point in January, and Bitcoin has dropped from around $65,000. This comparison looks at how well each asset is performing relative to the other.
According to Delphi’s market strategist, a key technical indicator suggests Bitcoin’s price could rise in early June. Specifically, they anticipate a ‘bullish crossover’ – a positive signal – based on the 9- and 21-week exponential moving averages. Historically, similar crossovers have often been followed by significant Bitcoin price increases, ranging from 148% to 641%.
Kevin Warsh will lead his first Federal Open Market Committee meeting as Fed Chair on June 16-17. Experts currently predict a very low probability – around 1.2% – that interest rates will be increased at this meeting.
It remains to be seen if positive economic signs will be strong enough to overcome current challenges. This will likely become clearer after Warsh’s first meeting and as we track inflation throughout the summer, a period also complicated by ongoing tensions with Iran.
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2026-05-19 10:46