Bitcoin Whales Sold August Rally, Will BTC Price Trend Lower?
Bitcoin is trending sideways into the long U.S. weekend with the price of BTC compressing around $19,500 and $20,500. The support around the lower zone of this range might be tested as the number one cryptocurrency struggles to preserve its current levels. Related Reading: AVAX Posts Over 2 Million Transactions Over The Weekend, New Highs Seen At the time of writing, Bitcoin (BTC) trades at $19,900 with a 1.4% profit over the past 7 days and sideways price action in the last 24 hours. BTC’s price is heavily underperforming other cryptocurrencies as Ethereum (11%), Cardano (14%), and....
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On-chain data shows the Ethereum whales have sold the asset recently, while key holders on the Bitcoin network have accumulated instead. Ethereum Whales Have Sold Into The Latest Rally As explained by analyst Ali Martinez in a new post on X, the Ethereum whales have participated in selling recently. The “whales” here refer to the ETH entities holding between 1,000 and 10,000 ETH. At the current exchange rate, this range converts to $1.8 million to $18 million. While these bounds don’t cover the largest of holders in the sector, they do still contain some of the key....
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....
Bitcoin has undergone an extreme rally over the past few days, pushing from $19,000 to $23,800 at the highs. The cryptocurrency has since corrected to $23,000 as consolidation has begun after this massive thrust higher. Data shows that there were some whales that were not too excited about this rally. In fact, order book data […]
XRP whales look to have regained their confidence in the XRP token, with recent data showing an accumulation trend among these investors. This is significant as XRP eyes the $1 mark and as these XRP whales could play a role in facilitating such a price rally. XRP Whales Buy 140 Million Tokens Crypto analyst Ali […]
Analysts and traders discuss both bull and bear cases for Bitcoin after the BTC price plunged to $16,200. The price of Bitcoin (BTC) dropped sharply on Nov. 26 following a mass sell-off from whales. Data from on-chain data firms, namely Santiment, Intotheblock, and CryptoQuant, show heightened levels of whale exchange inflows.Whales selling right under Bitcoin's all-time high, particularly when the market sentiment was overly euphoric, led to a massive drop. Roughly $1.8 billion worth of futures contracts were wiped out, as Cointelegraph reported. Some exchanges, like Binance as an....