🔺 Whales Bought >10,000 BTC ($950M) Amid Bitcoin's Recent Correction
There is an opinion that if "whales" start selling coins, this may foreshadow a fall in the rate. And vice versa, if "whales" replenish reserves, the price of cryptocurrency may go up. However, in the case of this information, attempts to manipulate the market cannot be ruled out.
"Whales" bought more than 10 thousand bitcoins (BTC) during the coin's price decline from $99 thousand to $90 thousand, crypto analyst Ali Martinez reported, citing Santiment data. After this fall, the rate reversed. At 18:30 Moscow time on November 28, BTC was trading at about $95.4 thousand, having risen in price by 0.9% in a day.
According to Martinez's calculations, one key support level for Bitcoin to watch is $93,580, as a total of 667,000 addresses bought almost 504,000 BTC at that price. It is necessary to stay above that level to prevent these buyers from selling, the analyst believes.
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