Bitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
Bitcoin Whales and Sharks Trigger Active Sell-Off Amid Price DipBitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
By AZC News | 8 hours ago
The market continues to face strong selling pressure, particularly from major whales.Bitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
As the flagship cryptocurrency's value descends below the $40,000 threshold during a broader sell-off across the cryptocurrency market, recent data reveals a noteworthy trend in Bitcoin inflows to centralized exchanges, indicating significant divestment by major investors.
According to insights from CryptoQuant, an on-chain analytics firm, these inflows signify "clear indications of active selling pressure from both sharks and whales in the market." Here, sharks are characterized as entities holding between 100 and 1,000 BTC, while whales are those with holdings exceeding 1,000 BTC.
The analysis highlights a shift in the composition of sellers within the exchange markets after Bitcoin's price reached $49,000. Previously dominated by retail investors, analogous to shrimps (those holding less than 1 Bitcoin), the current landscape witnesses a transition to larger market players. These formidable holders are currently orchestrating profit-taking strategies within the exchanges.
The price of the flagship cryptocurrency hit a high above the $49,000 mark earlier this year amid the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, with investors betting on signicant inflows for these funds as they allow both retail and institutional investors to gain exposure to the cryptocurrency without managing the private keys to a wallet.
Related: How Much Bitcoin is Tesla Currently Holding?
The firm added that these holders, who have a higher ratio than short-term Bitcoin holders, have accumulated a lot of Bitcoin during the 2023 bull run, according to temporal data. The recent crypto market sell-off notable comes at a time in which a recent JPMorgan research report cast doubt on the impact of spot Bitcoin ETFs on the market.
The team of analysts, headed by Kenneth Worthington, anticipate that the spot Bitcoin ETFs, which have been a driving force in reviving the ecosystem, may not meet market expectations. Furthermore, the analysts voiced their concern that any letdown in ETF fund flows might dampen the excitement that has fueled the surge in cryptocurrency.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research wheBitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
By AZC News | 8 hours ago
The market continues to face strong selling pressure, particularly from major whales.Bitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
As the flagship cryptocurrency's value descends below the $40,000 threshold during a broader sell-off across the cryptocurrency market, recent data reveals a noteworthy trend in Bitcoin inflows to centralized exchanges, indicating significant divestment by major investors.
According to insights from CryptoQuant, an on-chain analytics firm, these inflows signify "clear indications of active selling pressure from both sharks and whales in the market." Here, sharks are characterized as entities holding between 100 and 1,000 BTC, while whales are those with holdings exceeding 1,000 BTC.
The analysis highlights a shift in the composition of sellers within the exchange markets after Bitcoin's price reached $49,000. Previously dominated by retail investors, analogous to shrimps (those holding less than 1 Bitcoin), the current landscape witnesses a transition to larger market players. These formidable holders are currently orchestrating profit-taking strategies within the exchanges.
The price of the flagship cryptocurrency hit a high above the $49,000 mark earlier this year amid the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, with investors betting on signicant inflows for these funds as they allow both retail and institutional investors to gain exposure to the cryptocurrency without managing the private keys to a wallet.
Related: How Much Bitcoin is Tesla Currently Holding?
The firm added that these holders, who have a higher ratio than short-term Bitcoin holders, have accumulated a lot of Bitcoin during the 2023 bull run, according to temporal data. The recent crypto market sell-off notable comes at a time in which a recent JPMorgan research report cast doubt on the impact of spot Bitcoin ETFs on the market.
The team of analysts, headed by Kenneth Worthington, anticipate that the spot Bitcoin ETFs, which have been a driving force in reviving the ecosystem, may not meet market expectations. Furthermore, the analysts voiced their concern that any letdown in ETF fund flows might dampen the excitement that has fueled the surge in cryptocurrency.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research wheBitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
By AZC News | 8 hours ago
The market continues to face strong selling pressure, particularly from major whales.Bitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
As the flagship cryptocurrency's value descends below the $40,000 threshold during a broader sell-off across the cryptocurrency market, recent data reveals a noteworthy trend in Bitcoin inflows to centralized exchanges, indicating significant divestment by major investors.
According to insights from CryptoQuant, an on-chain analytics firm, these inflows signify "clear indications of active selling pressure from both sharks and whales in the market." Here, sharks are characterized as entities holding between 100 and 1,000 BTC, while whales are those with holdings exceeding 1,000 BTC.
The analysis highlights a shift in the composition of sellers within the exchange markets after Bitcoin's price reached $49,000. Previously dominated by retail investors, analogous to shrimps (those holding less than 1 Bitcoin), the current landscape witnesses a transition to larger market players. These formidable holders are currently orchestrating profit-taking strategies within the exchanges.
The price of the flagship cryptocurrency hit a high above the $49,000 mark earlier this year amid the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, with investors betting on signicant inflows for these funds as they allow both retail and institutional investors to gain exposure to the cryptocurrency without managing the private keys to a wallet.
The firm added that these holders, who have a higher ratio than short-term Bitcoin holders, have accumulated a lot of Bitcoin during the 2023 bull run, according to temporal data. The recent crypto market sell-off notable comes at a time in which a recent JPMorgan research report cast doubt on the impact of spot Bitcoin ETFs on the market.
The team of analysts, headed by Kenneth Worthington, anticipate that the spot Bitcoin ETFs, which have been a driving force in reviving the ecosystem, may not meet market expectations. Furthermore, the analysts voiced their concern that any letdown in ETF fund flows might dampen the excitement that has fueled the surge in cryptocurrency.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research wheBitcoin Whales and Sharks Trigger Active Sell-Off Amid Price Dip
By AZC News | 8 hours ago
As the flagship cryptocurrency's value descends below the $40,000 threshold during a broader sell-off across the cryptocurrency market, recent data reveals a noteworthy trend in Bitcoin inflows to centralized exchanges, indicating significant divestment by major investors.
According to insights from CryptoQuant, an on-chain analytics firm, these inflows signify "clear indications of active selling pressure from both sharks and whales in the market." Here, sharks are characterized as entities holding between 100 and 1,000 BTC, while whales are those with holdings exceeding 1,000 BTC.
The price of the flagship cryptocurrency hit a high above the $49,000 mark earlier this year amid the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States, with investors betting on signicant inflows for these funds as they allow both retail and institutional investors to gain exposure to the cryptocurrency without managing the private keys to a wall
Related: How Much Bitcoin is Tesla Currently Holding?
The firm added that these holders, who have a higher ratio than short-term Bitcoin holders, have accumulated a lot of Bitcoin during the 2023 bull run, according to temporal data. The recent crypto market sell-off notable comes at a time in which a recent JPMorgan research report cast doubt on the impact of spot Bitcoin ETFs on the market.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.n making a decision.n making a decision.n making a decision.
