Bitcoin Whales' Profit-Taking Sparks Caution Among Crypto Traders
TL;DR
On-chain data indicates that Bitcoin whales have been distributing a large amount of BTC, while sharks have been accumulating. The whales have sold around 75,500 BTC, while the sharks have bought 78,100 BTC. This behavior may be due to whales redistributing their holdings into smaller wallets or taking security precautions. Despite the selling pressure, the market has absorbed it relatively well, with the BTC price holding at around $62,400 after a recent decline to the low $60,000 levels.
- Bitcoin Whale Holdings Plunge, But Price Holds On At $62,000 Bitcoinist
- As banks buy up bitcoins, who else are the 'Bitcoin whales'? BBC.com
- Bitcoin Whale Sits on $900 Million Profit After Grabbing Big BTC Chunk in 2022 U.Today
- Analyst Warns Crypto Traders To Proceed With Caution As Bitcoin Whales Take Profits The Daily Hodl
- This Mysterious Wallet Has Been Buying at Least 100 BTC Daily Since Nov 2022 Coinfomania
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