Editor's PiCK
"Bitcoin (BTC) Whales Return to Spot Market... Buying and Selling Pressure 'Neutral'"
Minseung Kang
Summary
- An analysis has been raised that Bitcoin whale investors are returning to the spot market.
- CryptoQuant revealed that the movements of whale investors have been detected, but the buying and selling pressure remains neutral.
- It was reported that this suggests the possibility that whales are preparing for directional movements in the future.
An analysis has emerged that whale investors holding large amounts of Bitcoin (BTC) are reappearing in the spot market.
On the 3rd, the on-chain analysis account CryptoOnchain of the virtual asset (cryptocurrency) analysis platform CryptoQuant stated in a Quicktake report, "According to on-chain data, the market return of large whale investors has been detected."
The analyst explained, "However, no active buying or selling trends have been confirmed. The buying and selling pressure in the spot market is generally balanced."
The recent return of whales is interpreted as a signal that they are preparing for directional movements in the future, but at this point, the sentiment in the spot market remains cautiously neutral.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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