[Analysis] "40,000 BTC Deposited to Exchanges... Bitcoin Faces Correction Pressure from Profit-taking"
Suehyeon Lee
Summary
- It was reported that due to profit-taking by large investors, 40,000 Bitcoins (BTC) were deposited to exchanges, increasing selling pressure.
- Order activity at over-the-counter (OTC) desks is becoming more active, resulting in an overall rise in liquidity.
- High trading volumes are causing a price correction for Bitcoin, but since it has not declined below $110,000, it is analyzed that mid-term buying momentum remains strong.
As large investors move to realize profits, 40,000 Bitcoins (BTC) have been deposited into exchanges, increasing selling pressure in the market.
On the 26th (local time), CryptoQuant analyst caueconomy reported, "Large investors are realizing gains and 40,000 Bitcoins have been deposited into exchanges. Over-the-counter (OTC) desk activity is also picking up, leading to a general increase in overall liquidity."
He added, "High trading volumes are leading to spot market selling and are triggering a Bitcoin price correction. However, the price of Bitcoin has not yet fallen below $110,000, which demonstrates that mid-term buying power remains strong."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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