1.6 Billion Dollars of Bitcoin Purchased! Which News Is Pricing?

In the morning, we shared a news that we stated that the price increase in Bitcoin may be related to ETF expectations and may come from institutional buyers.

CryptoQuant CEO Ki Young Ju said that the 5% increase in Bitcoin in a short time was due to a large whale purchase.

Sharing the graphic on this, Ju said, “A purchase of $ 1.6 billion was made on market orders. It could have been done by someone or someone else. During this $1.6 billion purchase, only $17 million was liquid. So it looks more like whale buying than short tightening.” said.

The short rise in Bitcoin confirms that the orders are market orders and that the sales have swept them all.

Because when we look at the minute chart, we see that the sharp rise in Bitcoin took a total of 5 minutes.

In addition to the expectations regarding the ETF, experts evaluate that there may be big news regarding institutional investors in the background and that the purchases may have hardened for this reason.

Currently, US indices are trading with losses close to 1% with a negative open. Bitcoin continues to diverge positively from the markets.

*Not Investment Advice.

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