Bitcoin Whales Sell Off 25,740 BTC as Retail Investors Buy the Dip
Bitcoin Whales Sell Off 25,740 BTC as Retail Investors Buy the Dip
On-chain data reveals that Bitcoin whales have sold a significant 25,740 BTC over the past week, contributing to the recent market dip. These large holders, who own between 10,000 and 100,000 BTC, appear to be capitalizing on price movements to offload their holdings. Notably, some whales have been inactive for three years before selling their BTC on Binance.
Despite this massive sell-off, on-chain analytics indicate that the number of Bitcoin addresses accumulating BTC outweighs those selling. This suggests that retail investors are seizing the opportunity to buy Bitcoin at lower prices, anticipating potential profits as the market rebounds.
Bitcoin Price Volatility Persists Amid Bullish Sentiment
Bitcoin’s price has shown significant volatility, trading at $88,365.61 with a 0.73% drop in the last 24 hours. The cryptocurrency hit a low of $86,008.23 recently, reflecting ongoing market fluctuations. However, analysts remain optimistic, with CryptoQuant CEO Ki Young Ju noting that Bitcoin is still in a bullish cycle. He believes that even if BTC drops to $77,000, it would represent a price correction rather than a bearish trend.
The market sentiment remains positive, with retail investors demonstrating confidence in Bitcoin’s long-term potential despite short-term price swings.
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