Bitcoin Whales Prepare for a Fall: $1.8 Billion in a Few Days
Cryptocurrency analyst Ali Martinez announced that Bitcoin whales have sold or redistributed around 30,000 BTC in the last 72 hours.
These sales correspond to a total trading volume of $1.83 billion. Martinez stated that this move indicates a significant position change by major players in the market.
Bitcoin whales are generally known as investors who hold large amounts of BTC, and such large sales can have significant effects on the market. The recent squeeze of Bitcoin around $60,000 has caused these whale movements to be followed carefully.
BTC may fall in the short term
This massive sell-off increases uncertainty among investors, and it is a matter of curiosity how the Bitcoin price will follow in the coming days. Analysts predict that these sales may have a negative impact on the market in the short term. However, the impact of these movements on price movements in the long term remains uncertain.
Blockstream CEO Adam Back has broken his silence on BTC’s progress, stating that the market’s decline could continue. Back predicts that a retest of the $58,000 level is inevitable and that the market will make a new move at this point. This level has previously served as an important support area.
Stay tuned for new information.
