Whales sold more than 34,000 Bitcoin in a week, and that is 2.6 billion dollars of selling. Who is buying it? đ
CryptoPotato reports large Bitcoin holders offloaded more than 34,000 BTC, worth roughly 2.6 billion dollars, as Bitcoin dropped from 79,000 dollars to below 73,000 dollars over the past week, while Ethereum whales also cut about 17,800 ETH, worth around 40 million dollars. đ The twist is that XRP whales are moving the other way, adding to their bags while Bitcoin and Ethereum whales sell, according to the same report. My reading is that big holders are de risking into weakness, not buying the dip, and that is why every bounce keeps failing, but the XRP whale buying shows the selling is selective, not a blind exit from everything.
Are whales done selling, or is this the start of a deeper distribution phase? đ€
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #Whales
CryptoPotato reports large Bitcoin holders offloaded more than 34,000 BTC, worth roughly 2.6 billion dollars, as Bitcoin dropped from 79,000 dollars to below 73,000 dollars over the past week, while Ethereum whales also cut about 17,800 ETH, worth around 40 million dollars. đ The twist is that XRP whales are moving the other way, adding to their bags while Bitcoin and Ethereum whales sell, according to the same report. My reading is that big holders are de risking into weakness, not buying the dip, and that is why every bounce keeps failing, but the XRP whale buying shows the selling is selective, not a blind exit from everything.
Are whales done selling, or is this the start of a deeper distribution phase? đ€
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Whales
