Summary
- Selling by large holders, or whales, has been cited as a factor behind recent weakness in Bitcoin, the leading cryptocurrency.
- Ali Martinez said whales distributed more than 70,000 Bitcoin into the market over the past month, which may be one factor behind Bitcoin’s recent decline.
- Glassnode data showed that Bitcoin holdings at addresses with 1,000 BTC or more fell to 5.19 million from 5.26 million, while Bitcoin dropped 20%% over the same period and was trading at $63,770.
Forecast Trend Report by Period
Large holders, or whales, have been cited as one factor behind Bitcoin’s recent weakness.
Crypto analyst Ali Martinez wrote on X on June 13 that whales had distributed more than 70,000 Bitcoin into the market over the past month. He said that may be one factor behind the cryptocurrency’s recent decline.
Glassnode data he shared showed that addresses holding at least 1,000 Bitcoin reduced their combined holdings to 5.19 million BTC from 5.26 million BTC over the past month. That suggests about 70,000 Bitcoin were sold into the market during the period.
Bitcoin has fallen 20% over the past month and was trading at $63,770 as of 6:10 p.m. on June 13.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
