According to recent statistics from CryptoQuant, whales are ditching Bitcoin as the market adjusts.
CryptoQuant data analytics platform CEO Ki Young Ju cautioned the industry is currently highly uncertain as to when Bitcoin whales start to process digital assets.
Therefore, Ju advises “stop trading, be patient and wait for the next fluctuations”.
$BTC market is extremely uncertain right now.
Whale selling signals a bear/fake-bull marketplace, and retail selling implies a bull market. We’re in neutral today.
Stop trade, be patient and await the next volatility. pic.twitter.com/obXS6eFBGN
— Ki Young Ju (@ki_young_ju) June 18, 2021
Accordingly, the data indicates that whales began to ditch as the market lost momentum this morning. Just a couple of days ago, Bitcoin’s scenario was positive when it crossed the $40,000 mark, reaching $41,000 – the maximum level in almost a month.
However, this cost couldn’t endure for long as BTC lost support in the $40,000 area. The lowest cost sometimes reached 37,000 USD before recovering slightly. Bitcoin dominance remains around 45%.
Besides, the altcoin market also has moves like Bitcoin. In the 24-hour timeframe, red dominates nearly the whole altcoin marketplace with high altcoins losing quite a lot of worth since yesterday.
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According to Blogtienao
Compiled by ToiYeuBitcoin