Whales Selling Behavior Could Mean It’s Late in the Cycle

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Bitcoin’s recent wave of whale selling pressure is typical of a late-stage crypto cycle and should be no more concerning than it has been in the past, according to analysts from Glassnode. 

On Thursday, a major Bitcoin whale made moves toward selling. A wallet identified as belonging to trader Owen Gunden transferred 2,400 Bitcoin (BTC), worth $237 million, to the crypto exchange Kraken, according to blockchain analytics platform Arkham.

It adds to a recent spate of Bitcoin whales seemingly shifting away from the cryptocurrency

Glassnode…



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Whales Selling Behavior Could Mean It’s Late in the Cycle


Bitcoin’s recent wave of whale selling pressure is typical of a late-stage crypto cycle and should be no more concerning than it has been in the past, according to analysts from Glassnode. 

On Thursday, a major Bitcoin whale made moves toward selling. A wallet identified as belonging to trader Owen Gunden transferred 2,400 Bitcoin (BTC), worth $237 million, to the crypto exchange Kraken, according to blockchain analytics platform Arkham.

It adds to a recent spate of Bitcoin whales seemingly shifting away from the cryptocurrency

Glassnode…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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