A Look at the Reasons Why the Bitcoin (BTC) Bull Trend Will Come to a Stop Before the Halving

The Bitcoin price has been hovering around $42,000 since the Bitcoin ETF approvals last week. Bitcoin rose to $48,000 after the ETF approval, but selling pressure has been significant.

Santiment, an on-chain data provider, has noticed a pattern ahead of the authorized Bitcoin ETFs last Wednesday. Large Bitcoin wallets have been rapidly shifting older coins, reducing their average age.

The current bullish cycle in the cryptocurrency market may take a break as a result, even though there are little signs that this movement of older currencies may have temporarily ended.

Santiment thinks that a few huge whales might spark the market, lowering the mean dollar invested age of Bitcoin and possibly igniting another upward wave to $45,000 or $50,000.

According to Greeks.Live, the financial world is focused on how U.S. stock ETF trading affects bitcoin values. In today's block trades, $120 million, or 16% of the total, was traded in massive put options, an extremely high amount.

There was a noticeable pattern of short-selling using short-term put options among individual block trades that were more than $5 million. At the same time, smaller orders were more likely to purchase short-term puts.

Even while there are reasonable worries about the market's future, big traders are starting to think the market could have achieved stability, which is a ray of hope in the dark clouds of uncertainty.

It will be some time before we see any results from the Bitcoin ETF approval. Several market analysts, however, believe that it will be quite significant in the long run. Crypto expert Michael van de Poppe made the following statement:

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