CryptoQuant points to the largest sales by long-term BTC holders at the recent local high. According to#CryptoQuantCEO Ki Yoon Ju, $1.2 billion worth of BTC was sold within two weeks. Plus, over the same period, $460 million was withdrawn from spot Bitcoin ETFs.#Santimentanalysts, using slightly different evaluation criteria, point to other important figures:
- Crypto market whales sold more than 50,000#BTCfor about $3.3 billion between June 5-15.
- At the same time, crypto market whales have bought more than 700,000#ETHfor about $2.5 billion over the past three weeks.
In this regard, there are two points that I would like to draw your attention to:
- Despite the already rather long period of fixation by long-term holders of BTC, the price does not fall below $60,000. With great difficulty it falls even below $65,000 (daily candles close with bullish shadows below).
- At the same time, the sideways movement in BTC since March is considered as the “beginning of the end” not only of the growth of BTC, but also of the growth of the entire crypto market. But large players, meanwhile, are gaining positions in ETH.
