“Bitcoin rally “threatened” through the sale of whales and poor retail activity. This was stated by Cryptoquant analyst under the nickname Arab Chain. According to the expert, the first cryptocurrency is probably approaching the end of the bull cycle. This is indicated by the Whale to Flow indicator data on binance. Bitcoins worth about $ 5 were received in July and August […]”, – WRITE: Businessua.com.ua
Bitcoin rally “threatened” through the sale of whales and poor retail activity. This was stated by Cryptoquant analyst under the nickname Arab Chain.
According to the words The expert, the first cryptocurrency is likely to approach the end of the bull cycle. This is indicated by the Whale to Flow indicator data on binance.
Bitcoins worth about $ 5 billion were received in July and August. Similar transactions from large players were often preceded by large -scale sales, the analyst said.
Source: Cryptoquant.
Meanwhile, retail investors increase deposits on Binance. The light blue area on the graph shows the increase in their activity at the end of the past and early month. The historically late entrance of small market participants coincides with the final phase of the market cycle.
“When small investors connect so late, it usually signals the end of growth – whales use them to fix profits,” Arab Chain explained.
Despite the flow of funds, the pulse weakens, he added. Currently, the price of digital gold is moving in the sidewalk, which indicates the exhaustion of the buyer demand.
If the trend persists, sales pressure can cause up to $ 112,000.
The BTC/USD Binance Exchange Graph. Source: TradingView.
We will remind, on August 8 analysts Cryptoquant stated that the bitcoin entered the phase of “bull pause”. According to the head of the research department of the Julio Moreno Platform, new catalysts are needed to restore the first cryptocurrency. One he called a possible reduction in interest rate Fed In September.
The gun
Please wait …