Blockchain data shows that the decline in prices in the crypto market heavily impacted whales holding BTC, and they managed to accumulate a whopping 20,600 Bitcoins worth $1.38 billion on June 11. This development coincides with the uncertainty caused by the potential decline in interest rates in the cryptocurrency market.
This confusion can affect investor decisions and market dynamics, leading to fluctuations in cryptocurrency prices and trading volumes. Surprisingly, investors are finding refuge in assets such as Cardano (ADA) and DTX Exchange (DTX).
Bitcoin miners are starting to sell their BTC Bitcoin has recently experienced a price correction that has caused market volatility. On June 7, its price fell from the $71,000 range to $69,000, and since then it has fluctuated downwards.
Amid market volatility, BTC miners are selling their reserves after nearly two months of declining earnings following the fourth halving. They sent their coins to exchanges en masse, setting a two-month high of 3,000 BTC on June 9, worth about $207 million.
This was followed by a 3% correction in BTC price to $66,000, with miners selling an additional 1,200 BTC for approximately $83 million, the highest daily sales volume since late March.
Cardano (ADA) to Reach $2 with Chang Upgrade With Cardano Chang's update coming very soon, the price of Cardano (ADA) is expected to rise by over 300% to $2. The update will give users more control over network management. It is expected to offer an advanced management system, treasury and annual budgets, as well as improved support.
A renowned analyst believes that the upcoming Cardano (ADA) hard fork has caused excitement in the cryptocurrency community. He recalled previous Cardano network upgrades that caused the price of ADA to skyrocket. The enthusiasm surrounding the Alonzo hard fork in 2021 was one of the main examples of ADA price growth in response to innovation.
