historic collapse after Galaxy Digital sales
The post historic collapse after Galaxy Digital sales appeared on BitcoinEthereumNews.com. Liquidations exceeding 500 million dollars have shaken Bitcoin, overwhelmed by the sell-off triggered by Galaxy Digital while the strength index has plummeted to historic lows, already with signs of possible recovery. What happened in the last 24 hours on Bitcoin? Galaxy Digital has transferred thousands of BTC to the exchanges, triggering a temporary crisis of confidence among traders. The most significant figure: more than 500 million dollars of Bitcoin sold in a single day. This movement concerns a historic batch of 80,000 BTC, which had remained dormant for 14 years in on-chain wallets before being awakened and now released onto the market. This sudden injection of supply had an immediate effect: Bitcoin plunged below the level of 114,600 dollars in the initial phase of the sell-off, with fluctuations that slowed growth and halted the bull run of the previous months. “`html { “lineWidth”: 2, “lineType”: 0, “chartType”: “candlesticks”, “fontColor”: “rgb(106, 109, 120)”, “gridLineColor”: “rgba(242, 242, 242, 0.06)”, “volumeUpColor”: “rgba(34, 171, 148, 0.5)”, “volumeDownColor”: “rgba(247, 82, 95, 0.5)”, “backgroundColor”: “#0F0F0F”, “widgetFontColor”: “#DBDBDB”, “upColor”: “#22ab94”, “downColor”: “#f7525f”, “borderUpColor”: “#22ab94”, “borderDownColor”: “#f7525f”, “wickUpColor”: “#22ab94”, “wickDownColor”: “#f7525f”, “colorTheme”: “dark”, “isTransparent”: false, “locale”: “en”, “chartOnly”: false, “scalePosition”: “right”, “scaleMode”: “Normal”, “fontFamily”: “-apple-system, BlinkMacSystemFont, Trebuchet MS, Roboto, Ubuntu, sans-serif”, “valuesTracking”: “1”, “changeMode”: “price-and-percent”, “symbols”: [ [ “BINANCE:BTCUSDT|1D” ] ], “dateRanges”: [ “1d|1”, “1m|30”, “3m|60”, “12m|1D”, “60m|1W”, “all|1M” ], “fontSize”: “10”, “headerFontSize”: “medium”, “autosize”: false, “width”: 800, “height”: 500, “noTimeScale”: false, “hideDateRanges”: false, “hideMarketStatus”: false, “hideSymbolLogo”: false } “` A trader on X summarized the situation: “The price of Bitcoin has stalled since those coins started moving.” Why is Bitcoin’s RSI plummeting? What are the signs of recovery? The RSI (relative strength index) measures the overbought or oversold levels of an asset relative to a specific period. In the last few hours, the value of Bitcoin’s RSI…
The post historic collapse after Galaxy Digital sales appeared on BitcoinEthereumNews.com.
Liquidations exceeding 500 million dollars have shaken Bitcoin, overwhelmed by the sell-off triggered by Galaxy Digital while the strength index has plummeted to historic lows, already with signs of possible recovery. What happened in the last 24 hours on Bitcoin? Galaxy Digital has transferred thousands of BTC to the exchanges, triggering a temporary crisis of confidence among traders. The most significant figure: more than 500 million dollars of Bitcoin sold in a single day. This movement concerns a historic batch of 80,000 BTC, which had remained dormant for 14 years in on-chain wallets before being awakened and now released onto the market. This sudden injection of supply had an immediate effect: Bitcoin plunged below the level of 114,600 dollars in the initial phase of the sell-off, with fluctuations that slowed growth and halted the bull run of the previous months. “`html { “lineWidth”: 2, “lineType”: 0, “chartType”: “candlesticks”, “fontColor”: “rgb(106, 109, 120)”, “gridLineColor”: “rgba(242, 242, 242, 0.06)”, “volumeUpColor”: “rgba(34, 171, 148, 0.5)”, “volumeDownColor”: “rgba(247, 82, 95, 0.5)”, “backgroundColor”: “#0F0F0F”, “widgetFontColor”: “#DBDBDB”, “upColor”: “#22ab94”, “downColor”: “#f7525f”, “borderUpColor”: “#22ab94”, “borderDownColor”: “#f7525f”, “wickUpColor”: “#22ab94”, “wickDownColor”: “#f7525f”, “colorTheme”: “dark”, “isTransparent”: false, “locale”: “en”, “chartOnly”: false, “scalePosition”: “right”, “scaleMode”: “Normal”, “fontFamily”: “-apple-system, BlinkMacSystemFont, Trebuchet MS, Roboto, Ubuntu, sans-serif”, “valuesTracking”: “1”, “changeMode”: “price-and-percent”, “symbols”: [ [ “BINANCE:BTCUSDT|1D” ] ], “dateRanges”: [ “1d|1”, “1m|30”, “3m|60”, “12m|1D”, “60m|1W”, “all|1M” ], “fontSize”: “10”, “headerFontSize”: “medium”, “autosize”: false, “width”: 800, “height”: 500, “noTimeScale”: false, “hideDateRanges”: false, “hideMarketStatus”: false, “hideSymbolLogo”: false } “` A trader on X summarized the situation: “The price of Bitcoin has stalled since those coins started moving.” Why is Bitcoin’s RSI plummeting? What are the signs of recovery? The RSI (relative strength index) measures the overbought or oversold levels of an asset relative to a specific period. In the last few hours, the value of Bitcoin’s RSI…
What's Your Reaction?
