Bitcoin bulls lose their grip as BTC price action remains firmly below a critical long-term trendline. Could things get worse as whales deposited over 50,000 BTC to exchanges?
For the largest BTC hodlers, meanwhile, signs of change were already visible in on-chain data.to on-chain analytics firm Glassnode, on June 20 and 21, Bitcoin whales deposited over 50,000 BTC to exchanges. This followed 58,000 BTC in inflows on a single day on June 13.
Overall inflows from whale wallets thus remained elevated on an intraday basis, while still not matching the levels seen during some previous sell-offs. On May 9, for example, the same group sent over 80,000 BTC to exchange accounts, the most since March 2020.earlier this week, whale buyers meanwhile created a potential major support level just above $19,000.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Bitcoin Dead' Google Seaches Skyrocketed to Yearly Highs When BTC Fell Below $20KThe number of 'bitcoin' and 'bitcoin dead' searches on Google have skyrocketed to new highs as BTC slumped in value.
Read more »
Central African Republic President on BTC Volatility: 'Mathematics Don't Account for Human Emotions' – News Bitcoin NewsThe president also suggested to his followers that the CAR’s adoption of bitcoin is for the benefit of future generations. bitcoin legaltender adoption
Read more »
Major Bitcoin Mining Firm Sells 3,000 BTC and Abandons HODLing Strategy | CoinMarketCapGiven the sheer amount of BTC that's held by miners, there are fears that persistent, large sell-offs could contribute to downward pressure on Bitcoin's price.
Read more »
BTC/USD Signal: Bitcoin Pullback Can\u2019t be Ruled OutThe BTC/USD price drifted upwards as the market mood improved.
Read more »
Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks – Market Updates Bitcoin NewsETH traded higher for a second consecutive session on Tuesday, which is the first time we have seen back-to-back gains in over two weeks.
Read more »
BTC, DOGE, and SHIB Price Analysis for June 21Can BTC rise together with the biggest meme coins? Dogecoin dogecoin jasdoge DogecoinMemes RacerDoge crypto cryptocurrency
Read more »