As cryptocurrency whales begin to appear in the market more frequently, the risk of selling pressure increases.
Cryptocurrency markets, especially Bitcoin, have experienced serious declines, especially in the last week. However, in the market increased whale activity triggered greater concerns.
On-chain analysis platform In the data provided by the CryptoQuant analyst, in the past period Having less than 1 Bitcoin In the last days of the crypto market dominated by investorswhalecalled ” and Holding more than 1,000 BTC Attention was drawn to the increase in the number of investors.
In parallel with the increase in whale dominance Between 100 and 1,000 BTC “having existence”of sharksIts number in the market also increased.
The moves of these whales, who are long-term investors, to dispose of their Bitcoins are more likely to occur in the cryptocurrency market. serious selling pressure that you can create The analyst emphasizes that along with voluminous transactions, volatility also may increase predicted.
On the other hand, most of these long-term whales It is priced at very low levels in 2023 While reminding, it was stated that they are positioned in profit at the current price of 40 thousand dollars and are ready for sale.
According to CoinGecko data, in the last 24 hours 0.3% increase Bitcoin exhibiting, at the time of writing from $40,200 is being traded.