A Bitcoin whale that had been inactive for about four years just sent 1,000 BTC, worth about 74 million dollars, to an exchange. 📰
Lookonchain data reported by CoinLab shows the dormant whale moved 1,000 BTC to an exchange on 12 November, while Bitcoin was already sliding toward 71,300 dollars on the Nvidia and ETF news. 📊 On chain moves like this do not prove a sale by themselves, because whales move coins for many reasons, but the timing matters, because the move landed on a day when ETF outflows hit 299.9 million dollars and fear sat at 28. My reading is that this is one more seller in a market that already has too many, because a 74 million dollar transfer to an exchange is not a buy signal, and it tells you old holders are not waiting patiently at these levels.
Does this whale sell into the bounce, or was the move just a transfer? 🤔
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #Whale
Lookonchain data reported by CoinLab shows the dormant whale moved 1,000 BTC to an exchange on 12 November, while Bitcoin was already sliding toward 71,300 dollars on the Nvidia and ETF news. 📊 On chain moves like this do not prove a sale by themselves, because whales move coins for many reasons, but the timing matters, because the move landed on a day when ETF outflows hit 299.9 million dollars and fear sat at 28. My reading is that this is one more seller in a market that already has too many, because a 74 million dollar transfer to an exchange is not a buy signal, and it tells you old holders are not waiting patiently at these levels.
Does this whale sell into the bounce, or was the move just a transfer? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Whale
