[Analysis] "Bitcoin, Expected Decrease in Selling Pressure... Whale Deposit Volume Declining"
Uk Jin
Summary
- It was reported that selling pressure is expected to ease as whales holding large amounts of Bitcoin reduce their deposits to exchanges.
- Cryptoquant contributor Darkfost revealed that the proportion of whale deposits has decreased on Binance.
- It was reported that the current price of Bitcoin is trading at $82,838, up 4.18% compared to the previous day.
Deposits to exchanges from whales holding large amounts of Bitcoin (BTC) appear to be decreasing. Observations suggest that selling pressure may ease as exchange deposits decline.
On the 12th (Korean time), Cryptoquant contributor Darkfost analyzed through a report that "the proportion of whale deposits has decreased on Binance, the world's most traded exchange" and added that "this can be seen as Binance's whales reducing selling pressure."
Meanwhile, as of 8:05 AM today, Bitcoin is trading at $82,838 on the Binance exchange, up 4.18% compared to the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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