Bitcoin Shows Signs of Recovery—Is the Whale Sell-Off Finally Over?
Bitcoin has continued its downward trajectory when observed over weekly and monthly timeframes, recording an 8.4% decline in the past week and a 16.2% drop over the past month. However, in the shorter time frame, signs of potential reversal are emerging. Over the past 24 hours, Bitcoin has seen a slight recovery, with its price rising to $81,647. This shift has led analysts to closely examine whale activity and exchange trends to determine whether the correction phase may be nearing an end. Related Reading: Bitcoin’s SOPR Nears Critical Level—Is a Deeper Correction Ahead? Binance’s Whale....
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The Bitcoin (BTC) price faces numerous heavy resistance levels in the near term, whale clusters from Whalemap show. The latest Bitcoin (BTC) whale clusters’ data shows four key short-term price levels could potentially act as resistances, namely $10,369, $10,570, $10,734 and $10,842.The hourly map of unspent Bitcoin from whales. Source: WhalemapWhalemap, an on-chain analysis firm that tracks Bitcoin whale activity, observes areas where whales, or high-net worth individuals, accumulate or move their holdings. Green clusters indicate areas where whales last bought Bitcoin. Given the tendency....
Bitcoin has recorded multiple dips in recent weeks that have pushed its price below $60,000. The slump came as a result of sell-offs from investors who believe that the asset has reached its peak. Panic had spread like wildfire, triggering even more sell-offs but not everyone gave in. Whales have always been known to gobble up the bitcoins that small-time investors unload during periods of panic and this time has proven to be no different. While the broader market panic sold their holdings, bitcoin whales took advantage of the opportunity to pad up their holdings, snapping up billions in....
A Bitcoin whale placed a $100 million short on Nov. 15 after various on-chain data hints at a whale-induced BTC sell-off throughout the past week. A Bitcoin (BTC) whale placed a $100 million short on Bybit, according to the pseudonyms trader CL. It comes after various on-chain data points toward a whale-driven sell-off throughout the past week.Though the momentum of Bitcoin remains strong, there are many reasons that make $16,000 an attractive area for sellers.There is significant liquidity at $16,000, primarily because it is a heavy resistance level. But the level has seen relatively high....