Bitcoin ‘Diamond Hands’? BTC Holds $97K as Whales Dump at 3AC Levels
- Bitcoin faces its largest selling pressure since the 3AC collapse but remains resilient.
- MicroStrategy buys 7,633 BTC, signaling strong institutional belief in Bitcoin.
- Market volatility rises with macroeconomic events, influencing Bitcoin’s price.
Bitcoin is experiencing its largest selling pressure since the Three Arrows Capital (3AC) collapse in 2022. Whale investors have offloaded BTC at a rate nine times higher than the yearly average.
Despite this, Bitcoin remains resilient, maintaining a price near $100,000. Analysts suggest this could indicate seller exhaustion. Meanwhile, upcoming economic events, including U.S. inflation data and Federal Reserve Chair Jerome Powell’s testimony, could spark significant volatility in the crypto market.
Whale Selling Reaches Extreme Levels
According to Bitwise Europe’s head of research André Dragosch, Bitcoin saw its highest selling pressure in nearly two years. Large transactions on spot exchanges suggest that major holders are cashing out.
However, Bitcoin’s ability to stay above key levels despite this pressure hints at strong demand. Dragosch believes the market could be reaching a point where sel…
The post Bitcoin ‘Diamond Hands’? BTC Holds $97K as Whales Dump at 3AC Levels appeared first on Coin Edition.
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Bitcoin ‘Diamond Hands’? BTC Holds $97K as Whales Dump at 3AC Levels
- Bitcoin faces its largest selling pressure since the 3AC collapse but remains resilient.
- MicroStrategy buys 7,633 BTC, signaling strong institutional belief in Bitcoin.
- Market volatility rises with macroeconomic events, influencing Bitcoin’s price.
Bitcoin is experiencing its largest selling pressure since the Three Arrows Capital (3AC) collapse in 2022. Whale investors have offloaded BTC at a rate nine times higher than the yearly average.
Despite this, Bitcoin remains resilient, maintaining a price near $100,000. Analysts suggest this could indicate seller exhaustion. Meanwhile, upcoming economic events, including U.S. inflation data and Federal Reserve Chair Jerome Powell’s testimony, could spark significant volatility in the crypto market.
Whale Selling Reaches Extreme Levels
According to Bitwise Europe’s head of research André Dragosch, Bitcoin saw its highest selling pressure in nearly two years. Large transactions on spot exchanges suggest that major holders are cashing out.
However, Bitcoin’s ability to stay above key levels despite this pressure hints at strong demand. Dragosch believes the market could be reaching a point where sel…
The post Bitcoin ‘Diamond Hands’? BTC Holds $97K as Whales Dump at 3AC Levels appeared first on Coin Edition.
Read More
Compliance on Paper, Defiance in Action: El Salvador Quietly Buys Bitcoin