“Bitcoin’s Price Flash Crashed on Sunday After A Whale Reportedly Sold 24,000 BTC, Reversing Gains From Fed Chair Powell’s Dovish Speech.”, – WRITE: www.coindesk.com
The Cryptocurrency’s Price Fell by Over 2% from $ 114.666 to $ 112,546 in Under tenates to 07:40 UTC. The So-Called Flash Crash Occurred WHEN A SINLE SOLD 24,000 BTC, WORTH OVER $ 300 Million, Accounting To Blockchain Data Firm Timechainindex.com.
“This entity liquidated their entir 24,000 balance, sending all of it to hyperunite. They Transferred 12,000 Just Toiday and Are Still Actiely Selling, WHICH is Likely. Researcher Sani SAID ON X, Adding That Whale Still Holds A Total of 152.874 BTC Across All Associated Addresses, Including 5.266 BTC.
“The Funds Originally Came from HTX About Six Years Ago and Had Remoned Involving Transactions Involving One of Their Addresses Contening Approximate 24,000 BTC,” Sani Notied.
PRICES EVENTUALLY HIT LOWS Under $ 111,000 Before Recovering to Trade Near $ 112.800 As of Writing, Accounting To Coindesk Data.
Powel Spike ReversedThe Price Drop Has Erassed Gaves Seen After Friday, After The Fed Chair Jerome Powell Appeared to Support the Idea of Rate Cuts, While Playing Down The Long-TriM Inflationiary ImPACTA. Annual Speech at Jackson Hole.
The So-Called Dovish Speech Saw BTC Rally Nearly 4% from $ 112,500 to $ 116.900 Alongside a Risk-on Rally in US Stocks and The Decline in the Dollar Index.
Over The Weekend, The Analyst Community Expressed Confidentnce that A Rate Cut Wound Occur in September, Potentally Leading to New All-Time Highs in Bitcoin and Ether.
Options DisagreeThe Deribit-Listed Bitcoin Options Reveal A Lingering Risk Aversion, Account to Data Trained by Amberdata.
Specifically, The 25-Delta Risk Reversales, A Measure of Investor Sentiment Comparing Calls to Puts, Continue to Trade in the Negative Territory Thouhh. Title.
A Negative Risk Reversal Means That Put Options, Which Offer Insurance Against Price Declines, Are More Expensive Than Call Options.
In Other Words, despite the so-called dovish pivot by Powell, BTC Options Traders Continue to Price in Uncertain, Bracing for a Potential Downside Volatility.
BTC’s Risk Reversals. (Ambrdata/Deribit)
Read More: Asia Morning Briefing: Bitcoin’s Etfs Kill The Transaction Fees, Puning The Mines More
Omkar Holds A Master’s Degree in Finance and A Charterred Market Technician (CMT) Designation.
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Regulatory Clarity Following Ripple’s Litigation Outcome Continues to Support Institutional Flows, While Analysts Now Point to Ambitious Resistance.
- Xrp’s Rally on August 23 Was Driven by Increased Institutional Trading Volumes and Dovish Comments from fed Chair Jerome Powell.
- The Cryptocurrency’s Price FlCTUATED BETWEEN $ 3.02 and $ 3.09, with Significant Trading Volume Indicating Strong Institutional Interest.
- Analysts Suggest that Breaking the $ 3.30 Resistance Could Lead Xrp to Reach Ambitious Targets Between $ 5 and $ 8.
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