Bitcoin price reclaims $15.5K after whales sell the most BTC since March
Bitcoin whales sold the highest amount of BTC since March, which is a bullish sign for BTC price based on previous market cycles. The price of Bitcoin (BTC) has reclaimed $15,500 on Nov. 11 after whales sold the highest amount of BTC since March. In the past cycles, the dominant cryptocurrency typically rallied after a sell-off from whales.On March 12, for instance, the All Exchanges Inflow Mean (MA7) indicator hit 3. At the time, BTC declined to as low as $3,596 on BitMEX after seeing cascading liquidations.Since then, the MA7 has never increased above 1.7. On Nov. 11, for the first time....
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Bitcoin price strongly rejected near the $20,000 resistance, leading analysts to debate whether a quick recovery is in the cards. Bitcoin (BTC) finally managed to secure a new all-time high, but the digital asset rejected strongly near $20,000. On-chain analysts say a sell-off from whales and miners, combined with the $20,000 level acting as a resistance level caused a fierce drop.BTC/USD 15-minute chart. Source: TradingViewWhat led whales and miners to sell Bitcoin?For whales and high-net-worth investors, liquidity is the most important factor. Because they deal with large orders, they....
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