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Coin market whales are dumping stocks and exiting!
Analysts have 3 reasons to judge that this round of bull market has peaked
U.S. Federal Reserve Chairman Powell made dovish remarks last night, saying that he was satisfied with the progress of inflation decline in the past year, but still hoped to see more progress before he would have enough confidence to start cutting interest rates. Perhaps inspired by this, the four major U.S. stock indexes rose sharply on the 3rd, and the Nikkei index also hit a new high; but at the same time, the coin market fell in the opposite direction, and Bitcoin once reached a low of around $60,660 before noon, and the gains that started last weekend have been fully waived.
At a time when the cryptocurrency market was sluggish, many whales began to sell their shares. According to the monitoring of on-chain analyst Yu Jin, a whale/institution that bought ETH and ETH ecosystem-related tokens after the 19-4 document of the Ethereum spot ETF was approved at the end of May transferred a variety of ETH ecosystem tokens worth $11.57 million to Binance for sale in the past hour, causing these tokens to fall to varying degrees.
The inflation rate of long-term holders is close to the critical value
The dormant flow index of Bitcoin has risen
The amount of spending has surged