Editor's PiCK
Bitcoin Whales Show Selling Movement... BTC Decreased by About 50,000 Over a Week
Doohyun Hwang
Summary
- It was reported that selling movements from Bitcoin whales have been detected.
- It was revealed that 50,625 bitcoins have decreased over the past week.
- Selling by medium and large holders is interpreted to have a correlation with volatility in the market.
Selling signals from Bitcoin (BTC) whales have been detected.
According to data from on-chain analysis platform Santiment on the 14th (local time), wallets holding 100-1000 bitcoins (whale investors) saw a decrease of 50,625 bitcoins (approximately $4.07 billion) over the past week. During the same period, wallets holding 10-100 bitcoins also saw an outflow of 7,062 bitcoins (approximately $567.1 million).
Typically, such selling by medium and large holders is interpreted to have some correlation with market volatility and is likely to influence price movements in the long term. As of 11:27 AM today, Bitcoin is trading at around $84,200 on the Binance Tether (USDT) market, up 2.9% compared to the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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