Bitcoin Whales and Miners Sell Billions in BTC
A well-known on-chain analyst says that enormous Bitcoin holders are shedding large amounts of BTC.
Ali Martinez said that through just a span of 10 days Bitcoin whales have offloaded over fifty thousand BTC, valued at approximately $3.30 billion.
On-chain data from @santimentfeed reveals that #Bitcoin whales have sold over 50,000 $BTC in the past 10 days, totaling approximately $3.30 billion! pic.twitter.com/4p1pQVAUMi
— Ali (@ali_charts) June 14, 2024
Similarly, Martinez emphasized that there have been some sales made by some Bitcoin miners who came out selling more than 1.2k BTC which are valued to be above $79.20 million.
#Bitcoin miners have played a role in the recent $BTC price correction, selling over 1,200 #BTC, worth more than $79.20 million! pic.twitter.com/hNTnn49qRS
— Ali (@ali_charts) June 15, 2024
Martinez however noticed an optimistic sign amidst the dumping from the whales and miners in market dynamics of Bitcoin.
READ MORE: Robert Kiyosaki Urges Investment in Bitcoin Despite High Prices
The buyer seller ratio of BTC taker buy sell on HTX Global has risen to 545 as observed by him. This is a signal for increased buying pressure hence indicating upward movement possibilities in price values for the cryptocurrency.
Someone is buying the #Bitcoin dip!
The $BTC Taker Buy Sell Ratio on @HTX_Global surged to 545! This spike in buy pressure indicates bullish sentiment, suggesting an upward #BTC price movement could be on the horizon. pic.twitter.com/Gc5BE8aPzj
— Ali (@ali_charts) June 15, 2024
According to Martinez’s analysis of recent BTC price movements, one could draw similarity between it and May when its value fell below $60,000 but then rose again within a short period exceeding $70,000.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
