Bitcoin whales have cashed out nearly $800 million, signaling a shift in market sentiment.
Bitcoin Whales Cashing Out
Bitcoin whales have recently cashed out nearly $800 million in profits, indicating a significant change in market activity. Bitcoin price saw a 2.07% decrease to $96,153.51. This profit-taking raises questions about a possible price pullback or a new market phase.
Bitcoin Holders in Profit
Analysis shows 82% of Bitcoin addresses are profitable at an average price of $51,086.23. However, 7.85% of addresses are out of profit, indicating potential loss risks if prices drop further.
Traders Bracing for Volatility
Bitcoin has seen a 24-hour netflow increase of +2.31k BTC, suggesting possible selling activity. The monthly netflow increase of +136.53k BTC indicates substantial liquidity. These movements may signal upcoming market volatility.
The current state of Bitcoin signifies potential short-term pressure due to reduced scarcity and declining transaction volume.
