Bitcoin whales are looking for an opportunity: Will BTC continue to fall?
Bitcoin (BTC) remained indecisive after the April 9 Wall Street open, with warnings that macro data could lead to further declines in BTC prices.
Bitcoin (BTC) remained indecisive after the April 9 Wall Street open, with warnings that macro data could lead to further declines in BTC prices.
Bitcoin whales are rubbing their hands as CPI approaches
The cryptocurrency with the largest market value encountered sales once again after testing the $ 72,800 level during the week. Investors began to worry about Bitcoin, which broke its all-time record three times in total.
Material Indicators, which examined the reasons for the pressure on BTC by analyzing the order books, made an interesting comment. Analysts claimed that whales were trying to reduce the price of Bitcoin to take long positions. In the post made on account X, it was referenced that the US CPI data, which will be announced at 15.30 today, creates pressure.
“We have seen this behavior frequently around the economic calendar.”
Material Indicators stated that the sales may continue if US inflation data is announced above expectations. Experts underlined that the BTC price has the potential to quickly rebound after the purchases made by whales by taking advantage of the liquidity gap during declines.
