Increased whale activity signals potential short-term price declines for Bitcoin and Ethereum.
Bitcoin struggles near $62,500, facing resistance at $63,210 and support at $62,000.
Ethereum’s price trend mirrors Bitcoin’s, with critical support at $2,400 and resistance at $2,475.
Whale activities in the cryptocurrency markets, particularly for Bitcoin and Ethereum, have increased in the past week, according to CryptoQuant data. The actions of these large-scale investors are important for predicting potential price movements, especially when it comes to whether they are realizing profits or losses.
Their activities often show key shifts in the market and are closely monitored by traders. As Bitcoin and Ethereum whales start to realize their profits or losses, this can affect the overall market trend, giving us clues about where the market could head next.
Bitcoin Whales: A Signal for a Short-Term Decline?
Bitcoin whales, who hold massive amounts of the cryptocurrency, have started to realize their profits or losses. Historically, when these investors take profits, it often comes before a price decline. On the other hand, realizing losses usually shows fea…
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