As a seasoned crypto investor with a decade of experience under my belt, I can’t help but feel a mix of apprehension and intrigue when I see such significant whale activity. The massive sell-off by these BTC whales, amounting to $1.28 billion in just 24 hours, is certainly a red flag that warrants attention.
Over the last seven days, Bitcoin‘s value has been climbing steadily. However, it hasn’t managed to surpass the $65,000 mark multiple times in its attempts.
Based on blockchain information, large Bitcoin holders (referred to as “whales”) seem to be selling a significant amount of their assets recently. This pattern might indicate potential future difficulties if this trend persists.
#Bitcoin whales sold over 20,000 $BTC in the past 24 hours, worth around $1.28 billion!
— Ali (@ali_charts) September 25, 2024
crypto expert Ali recently highlighted a significant selling event that occurred over the past few days, where major players offloaded approximately 20,000 Bitcoins within a single day.
Today’s sale ranks as one of the largest daily transactions we’ve had so far this year, coming very close to reaching $1.3 billion in U.S. dollars.
Yesterday, Bitcoin’s price dipped from nearly $65,000 down to below $63,000, but quickly regained much of its loss. Following an increase toward $64,000 earlier today, it continued to climb and is now at around $64,400.
Should whales persist in their current activities and keep offloading Bitcoin, there’s a chance its price trends could deteriorate once more. Ali has highlighted the $63,300 mark as a significant support level that needs to be sustained; otherwise, Bitcoin might slide down to $60,365.
According to the latest blockchain data, the critical support level for Bitcoin lies at approximately $63,300. If this level is maintained, Bitcoin could potentially surge towards $65,500. However, if it fails to hold, a drop to around $60,365 seems imminent!
— Ali (@ali_charts) September 25, 2024
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2024-09-26 15:12