Bitcoin prices fall – Will the $30B buying frenzy hold BTC up?
The post Bitcoin prices fall – Will the $30B buying frenzy hold BTC up? appeared on BitcoinEthereumNews.com. Key Takeaways Bitcoin’s $3.5 billion profit exit and a rare 248K BTC accumulator spike now clash with looming liquidation zones. Could a breakdown below $110K unravel conviction, or is this a final shakeout before liftoff? Bitcoin [BTC] lost bullish momentum for the first time since it crossed $120,000. In the last 24 hours, the asset dropped 4.28%, a press time, to the $116,000 region. With both long-term and short-term holders triggering a sell-off, the question now is whether accumulators will follow this trend and offload their positions. AMBCrypto breaks down the possibility. $30 billion purchase met with caution Bitcoin accumulator addresses—wallets known for buying BTC and never selling—stepped in again in the past day. They scooped up 248,000 BTC worth over $30 billion at press time. This marks the group’s largest single-day purchase this year, bringing their total for the month to 164,000 BTC, according to CryptoQuant. Source: CryptoQuant CryptoQuant analyst Darkforest warned, “If BTC enters a phase of correction or consolidation, some of these addresses could start selling.” Such a move would likely spark a notable decline and could shift these wallets out of accumulator status. Curiously, investors seem to be setting off a wave that could prompt these very sell-offs. Cashing out at Bitcoin’s expense Investors are exiting the market quickly. Glassnode data confirmed a $3.5 billion realized profit in the last 24 hours. The sell-off came from both long-term holders (LTHs) and short-term holders (STHs). LTHs led the way, cashing out $1.96 billion (56%), while STHs offloaded $1.54 billion (44%). Source: Glassnode This coordinated exit marked one of the largest cash-outs this year, signaling waning confidence in short-term upside. Historically, events of this magnitude have preceded broader market corrections. With rising profit-taking pressure, Bitcoin risks sliding toward $115,000 or potentially lower. Market should brace for intensity The…
The post Bitcoin prices fall – Will the $30B buying frenzy hold BTC up? appeared on BitcoinEthereumNews.com.
Key Takeaways Bitcoin’s $3.5 billion profit exit and a rare 248K BTC accumulator spike now clash with looming liquidation zones. Could a breakdown below $110K unravel conviction, or is this a final shakeout before liftoff? Bitcoin [BTC] lost bullish momentum for the first time since it crossed $120,000. In the last 24 hours, the asset dropped 4.28%, a press time, to the $116,000 region. With both long-term and short-term holders triggering a sell-off, the question now is whether accumulators will follow this trend and offload their positions. AMBCrypto breaks down the possibility. $30 billion purchase met with caution Bitcoin accumulator addresses—wallets known for buying BTC and never selling—stepped in again in the past day. They scooped up 248,000 BTC worth over $30 billion at press time. This marks the group’s largest single-day purchase this year, bringing their total for the month to 164,000 BTC, according to CryptoQuant. Source: CryptoQuant CryptoQuant analyst Darkforest warned, “If BTC enters a phase of correction or consolidation, some of these addresses could start selling.” Such a move would likely spark a notable decline and could shift these wallets out of accumulator status. Curiously, investors seem to be setting off a wave that could prompt these very sell-offs. Cashing out at Bitcoin’s expense Investors are exiting the market quickly. Glassnode data confirmed a $3.5 billion realized profit in the last 24 hours. The sell-off came from both long-term holders (LTHs) and short-term holders (STHs). LTHs led the way, cashing out $1.96 billion (56%), while STHs offloaded $1.54 billion (44%). Source: Glassnode This coordinated exit marked one of the largest cash-outs this year, signaling waning confidence in short-term upside. Historically, events of this magnitude have preceded broader market corrections. With rising profit-taking pressure, Bitcoin risks sliding toward $115,000 or potentially lower. Market should brace for intensity The…
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