Bitcoin rate could not stay above $10,500

On Monday, September 14, the price of bitcoin falls. At 09:25 UTC, the first cryptocurrency was trading at $10,387.57 (-1.44%), according to CoinMarketCap.

Over the weekend, the bitcoin rate rose above $10,500, but could not gain a foothold there.

BTC/USD chart of Bitstamp from TradingView Ether fell to $369.62 (-4.52%).

XRP fell 2.99% to $0.245. 9 of the top 10 cryptocurrencies are trading in the red.

Whalemap analysts said that large clusters of “unspent bitcoins” are concentrated near the $10,570 and $11,288 marks, stored on wallets with a balance of more than 10 thousand BTC.

The experts explained: “Bubbles [on the chart] represent the accumulation of unspent bitcoins. The larger the bubble, the more unspent coins in it. “Unspent” refers to bitcoins that have not been moved since they entered the wallet. ” Apparently, in the short term, the levels of $10,570 and $11,288 will add up resistance levels that restrain the growth of the bitcoin price. With an upward movement, whales may begin to take profits at these levels. They can also sell coins at the indicated levels at breakeven if the price rise is replaced by a sharp fall”.

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