Bitcoin Whales Sell 147,000 BTC Since August, Fastest Selloff Of Cycle
On-chain data shows the Bitcoin whales are selling at their fastest monthly rate of the cycle, a potential reason behind the asset’s latest decline. Bitcoin Whale Holdings Have Significantly Dropped Over The Past Month In a new post on X, CryptoQuant Head of Research Julio Moreno has listed a contributing factor behind the recent plunge in the Bitcoin price. The factor in question is the trend in the holdings of the whales. Whales are defined as BTC investors carrying more than 1,000 tokens of the cryptocurrency in their wallet balance. At the current exchange rate, this cutoff....
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Bitcoin price is now below $18,000 and the distance from the all-time high set just weeks ago is increasing by the day. The incredible rally of 2020 might have now come to an end, with the tipping point caused by some of the largest cryptocurrency whales offloading their coins. And while things are likely to turn bearish as a result in the short-term, the whale-driven selloff is ultimately bullish for Bitcoin in the long run. […]
In this episode of NewsBTC’s daily technical analysis videos, we take a look at Bitcoin price action following today’s selloff in reaction to August CPI numbers. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 13, 2022 Today just so happened to be August CPI numbers release day, so volatility was expected all around. The Consumer Price Index went up by 0.1% month over month from July, leading to an immediate selloff in anything that wasn’t the dollar. Related Reading: WATCH: Bitcoin Weekly Chart Fires Bottom Signals At Open | BTCUSD....
The number of Bitcoin whales is increasing as the price of BTC continues to rise. The number of whale addresses holding Bitcoin (BTC) have hit a new all-time high, the latest data shows. This can be considered bullish, particularly as the price of BTC is showing staying power above $50,000.The increase in the number of whales indicate that high-net-worth investors are actively accumulating Bitcoin as the bull market continues.Number of addresses holding $1m Bitcoin. Source: GlassnodeWhy is the rising number of whales important?During bull cycles, the price of Bitcoin could be at risk of a....
On-chain data shows the Bitcoin sharks and whales have participated in a selloff of around $2.2 billion during the past week. Bitcoin Wallets With 100 To 10,000 BTC Have Been Selling Recently As pointed out by analyst Ali in a post on X, the large BTC investors might have been harvesting their profits recently. The indicator of interest here is the “BTC Supply Distribution,” which keeps track of the total amount of Bitcoin the different wallet groups in the sector are holding. The addresses or investors are divided into these groups based on the total number of coins they....
On-chain data shows the Cardano whales have sold more than a billion ADA during the past week, a sign that pain may not be over for the asset yet. Cardano Whales Have Participated In Some Distribution Recently Cardano didn’t have the best time in August, as the cryptocurrency registered a more than 18% drop. This new month of September hasn’t been any better for ADA, as the asset has only continued to struggle sideways around its lows so far. At present, the asset is trading just under the $0.26 level. The chart below displays the recent price action in the cryptocurrency.....