Bitcoin: On-chain data platform CryptoQuant pointed to BTC exits on cryptocurrency exchanges. According to current data, significant increases were recorded in whale activity as the leading cryptocurrency Bitcoin dropped below $40,000. According to many crypto analytics firms, Bitcoin whales have significantly increased their BTC holdings in recent weeks.
Large-Scale BTC Exit on Exchanges
Leading cryptocurrency Bitcoin (BTC)Although the coin is approaching the $41,000 price levels with its recent price movements, it has fallen below $40,000 more than once in recent weeks. This surge in Bitcoin has caused most altcoins in the cryptocurrency market to post double-digit losses. Many crypto analytics firms say that whale activity has increased significantly in this process and that whales BTC He said his savings continue to rise. In a recent post by CryptoQuant, an analyst stated that large-scale BTC outflows have been recorded on cryptocurrency exchanges in recent weeks, indicating a bullish trend in the market.
Will the Downtrend in the Market Continue?
Although some current data point to a rise in the name of the market, many experts, FEDHe stated that monetary tightening policies and global-scale geopolitical developments may cause the continuation of the value losses in Bitcoin. The uncertainty of direction in the market also caused volatility to increase significantly. Bitcoin, which has fallen below $ 40,000 more than once in recent weeks, approached the price levels of $ 41,000 after the upward movements it started to record yesterday evening. Most altcoins in the cryptocurrency market have started to record upward price movements with these recent gains in Bitcoin. After the last price movements recorded Ethereum (ETH)again exceeded $ 3,000 levels.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.