This Bitcoin Whale Trend Suggests a Serious Selloff Could be Imminent
It has been a rough past few days for Bitcoin, with the cryptocurrency seeing immense sell-side pressure as bears aim at erasing the gains that have come about as a result of the recent uptrend. Where the cryptocurrency trends next will depend largely on whether or not it sustained its recent break below its $17,000 […]
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Bitcoin saw a strong overnight selloff that caused its price to erase most of the gains incurred throughout the past couple of days This selloff came about at a crucial resistance level, with the selling pressure at $13,800 proving to be significant This is a historical level, as it is where BTC rallied to before facing a strong rejection in the summer of 2019 The rejection here was grave, but the cryptocurrency still has multiple […]
Bitcoin whale clusters show the $10,407 level has turned into a strong support area, raising the chance of a renewed bullish uptrend. Bitcoin (BTC) whale clusters indicate that the price could be in a short-term trend reversal after BTC’s recovery beyond $10,700. In the past two days, BTC price rose by nearly 6% from $10,135 to $10,755 across major exchanges.Whale clusters form when large investors accumulate Bitcoin and do not spend or move their holdings for significant periods of time. This typically indicates that whales expect BTC price to increase in the near term.The hourly map of....
Bitcoin price is down more than 10% from the weekend’s new all-time high set above $60,000 after an overnight selloff. The now sizable correction was first assumed to be a massive whale dumping more than $1 billion in BTC on crypto trading platform Gemini, but ultimately turned out to be something else. Here’s what actually caused the correction, and why the market was so easily shaken by what was ultimately a non-event. Whale Watching: Bitcoin […]
On-chain data shows Bitcoin whale ratio still has a high value right now, suggesting that more downside could be coming for the crypto soon. Bitcoin Exchange Whale Ratio Has Stayed At Elevated Values Recently As pointed out by an analyst in a CryptoQuant post, the BTC exchange whale ratio has remained at high values recently. The “exchange whale ratio” is defined as the sum of the top 10 Bitcoin transactions to exchanges divided by the total inflows. In simpler terms, this indicator tells us the relative size of the whale transactions (that is, the ten largest transactions)....
Bitcoin price fell yesterday by over 10%, and price action has been on a downward descent since. The selloff was in response to a variety of factors, including the introduction of a new ban in India, a CFTC probe into Binance, and a debate over what was thought to be whale moving a billion in […]