Cryptocurrency markets are in the red as Bitcoin (BTC) falls below $61,000 due to increased selling pressure.
Concerns flared as cryptocurrencies linked to the PlusToken Ponzi scheme were transferred to exchanges, causing panic.
Whales deposited 1,500 BTC worth $91.1M into exchanges, incurring huge losses. These whales accumulated BTC at an average price of $64,434, but sold at $61,965, incurring a loss of $50M.
Still, they hold 7,010 BTC worth $426M.
Fear and Greed Index Returns to Fear Level as BTC Drops 2.6% in 24 Hours Meanwhile, $42M in Long and Short Positions Liquidated, with 94% of Longs