Recent data shows troubling signs for Bitcoin's price trajectory. Here's what you need to know:
- 📉 Whale Growth Dive:
Whale growth has dropped dramatically from 6% in February to just 1%. Historically, whale growth of 3%+ has been linked to price pumps, but we're significantly below that now.
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- 🔽 Demand Dips:
Apparent demand for Bitcoin has turned negative, signaling reduced interest from investors.
- 📉 Coinbase Premium Falls:
The BTC premium on Coinbase has plummeted to 0.01%, indicating less willingness to pay extra for Bitcoin on this platform.
🔍 TL;DR:
The market is currently showing bearish signals. With declining whale activity and waning demand, Bitcoin's price may face challenges unless we see a revival in interest.
