Whale Addresses Holding Bitcoin Drops to two.four years Low

Whale Addresses Holding Bitcoin Drops to 2.4 Years Low
  • This plainly shows that Bitcoin investors continue being exceedingly careful.
  • The BTC Fear and Avarice Index is approaching “extreme fear” territory.

Bitcoin (BTC), the greatest cryptocurrency by market cap, continues to be heavily offered off as global market volatility persists. Bitcoin’s value dropped below $19,000 over the past weekend, and bearish forecasts are now being produced by market watchers.

Based on on-chain statistics, Bitcoin whale holdings happen to be continuously decreasing for 100 consecutive several weeks. Due to inflation and economic uncertainty, “addresses holding 100 to 10k $BTC have decreased their number of supply held of #crypto‘s top focal point in 29-month lows,” reported by on-chain data provider Santiment.

Investors Opened up Short Positions 

Thinking about the current economy, this plainly shows that Bitcoin investors continue being exceedingly careful. In addition, CryptoQuant’s figures reveal that short positions in Bitcoin derivatives have been receiving an upswing.

Based on CryptoQuant:

“The BTC holdings around the Derivatives Exchange elevated right before dumping BTC. Also, whales appear to possess intentionally opened up short positions around the Derivatives Exchange and decreased BTC prices.”

Everyone knows the cryptocurrency market in general has joined a serious downturn alongside Bitcoin. Throughout the current crypto market collapse, the altcoin sector saw a larger decline. Bitcoin’s recognition among everyone has so arrived at an amount not seen within the last two several weeks. Statistically printed by Santiment, a blockchain-based company:

The BTC Fear and Avarice Index is approaching “extreme fear” territory as Bitcoin records its third straight daily loss. The Worry &amp Avarice Index dropped from 24 to 21 earlier today. However, still it seems to stay within the 20-point mark, showing that investors are very resilient.

Suggested For You Personally:

CBK Believes Converting Kenya’s Reserves to Bitcoin Is Craziness

Latest stories

You might also like...