𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗪𝗶𝘁𝗵𝗱𝗿𝗮𝘄𝗮𝗹𝘀 𝗦𝗽𝗶𝗸𝗲: 𝗕𝘂𝗹𝗹𝗶𝘀𝗵 𝗼𝗿 𝗕𝗲𝗮𝗿𝗶𝘀𝗵?

Data from @cryptoquant_com shows a 𝗺𝗮𝘀𝘀𝗶𝘃𝗲 𝗻𝗲𝘁 𝗼𝘂𝘁𝗳𝗹𝗼𝘄 of 45,000 $BTC from exchanges on Aug. 27, marking the third-largest withdrawal of 2024

𝗠𝗮𝗷𝗼𝗿 𝗲𝘅𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗻𝗼𝘄 𝗵𝗼𝗹𝗱𝗶𝗻𝗴 𝟭𝟮.𝟱% 𝗹𝗲𝘀𝘀 #𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘁𝗵𝗮𝗻 𝗼𝗻 𝗝𝗮𝗻. 𝟭, this suggests investors might be gearing up to HODL.

$BTC is still struggling to break through $65K, the market remains choppy. Recent failed attempts to push higher have left traders wondering if a deeper correction to $53K is on the horizon before the next leg up.

💡 𝗟𝗮𝗿𝗴𝗲 𝘄𝗶𝘁𝗵𝗱𝗿𝗮𝘄𝗮𝗹𝘀 𝗼𝗳𝘁𝗲𝗻 𝘀𝗶𝗴𝗻𝗮𝗹 𝗯𝘂𝗹𝗹𝗶𝘀𝗵 𝗶𝗻𝘁𝗲𝗻𝘁, as investors pull their coins off exchanges to avoid selling. But with short-term price action looking grim, will we see a quick recovery, or is more turbulence ahead?

🚨 Despite the bullish sentiment behind these moves, 𝗱𝗼𝗻’𝘁 𝗶𝗴𝗻𝗼𝗿𝗲 𝘁𝗵𝗲 𝗱𝗼𝘄𝗻𝘀𝗶𝗱𝗲 𝗿𝗶𝘀𝗸. With exchange reserves dropping and price resistance holding strong, it might be a bumpy ride before $BTC makes a decisive move.

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Rt@cointelegraph

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