Popular analyst Ali Martinez, Bitcoin whales have recently changed their behavior and started selling to make a profit. stated.
As reported by Koinfinans.com, blainas have sold more than 80,000 BTC in the last three months, equivalent to approximately $4.8 billion.
Martinez also notes that Bitcoin’s Tom DeMark (TD) sequential indicator has issued a sell signal on the four-hour chart. The TD Sequential indicator is often used to determine trend direction and potential price reversals.
Since February 15, every sell signal from this indicator has been spot on, leading to corrections in BTC prices between 1.50% and 4.20%. This is a notable pattern for traders tracking short-term movements!
On Thursday, the analyst highlighted that Bitcoin had rebounded to $61,235 at the time of writing, after falling from an early morning high of around $63,400 to a low of $60,585. The top-ranked crypto asset by market cap is up nearly 19% in the past seven days and more than 38% since the beginning of the year.
