💵💵Bitcoin Whales Have Been Rushing to Stock Exchanges for 3 Days: $3.8 Billion in Sales Possible! 💵💵
While Bitcoin fell below $60,000, the movement on stock exchanges drew attention. Bitcoin, which started the week above $64,000, fell to approximately $62,000 after the transactions on October 7. Bitcoin, which fell on the following three trading days, fell below $60,000 on October 10, falling below the 200-day exponential moving average and breaking a critical support level.
According to CryptoQuant's data, approximately 28,000 BTC were sent to stock exchanges on October 7. On October 8, an additional 23,500 BTC were transferred to exchanges, while on October 9, approximately 12,000 BTC reached exchange accounts. The total value of these Bitcoin assets is approximately $3.8 billion.
While the decrease in the amount of Bitcoin on exchanges is generally considered a bullish signal, the opposite may indicate that selling pressure may increase. Especially on October 10, when the price fell below $60,000, many whales made panic sales. These transactions, made by investors expecting a further decline, created concern in the market in general.
Bitcoin, which has increased by 2% in the last 24 hours, is trading at $61,800 at the time of writing.
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