Bitcoin Sellers Hit Exchanges As Price Touches $112,000

Main points:

• Bitcoin speculators join the whales in sending BTC to exchanges, at a price and then decreases to less than $ 112,000.

• The analysis warns that the sale of constant whales may raise the correction of the BTC prices is deeper and longer.

• The applications book on the stock exchange shows exit from the market widely, but Bitcoin tries to restore $ 114,000.

The data indicates that Bitcoin operations (BTC) sells Hodles in all areas where BTC procedures decrease the price of less than $ 112,000, as indicates.

Numbers from the onchain analytics platform Cryptoquant Show both new investors and whales that send coins to exchanges.

Bitcoin whales, their owners in the short term collide with an exchange

Bitcoin, which is up to three weeks, did not do anything to establish fixed Hodlers nerves, and exchange flows show a rush to exit.

Cryptoquant reveals that the amount sent to the stock exchanges is lost by short -term holders (STHS) within 24 hours. 40,000 BTC passed on August 1.

This was the most since July 15, with the shareholder JA Marton a description Sths like “BTC”.

August 1 saw a significant increase in the exchange activity in general, as Cryptoquant placed the total number of today as a clear flow of 16,417 BTC.

“On the contrary, the exchange rate index increased to levels exceeding 0.70, which means that most of these sediments were whales,” his colleague in the Arab series indicated in.QuickTake“The Blog for Saturday.

“When large deposits coincide with the whales that dominate these sediments, the market usually enters a stage of sales pressure and the rapid decrease. If the whales continue to deposit bitcoin with exchanges at the same pace, it is expected to increase the pressure on the price of bitcoin.”

The last increase in the exchange of flows focuses on the trend in force since early July, when BTC/USD was $ 110,000 for the first time.

“Since early July, the monthly average BTC to Binance has increased steadily again. Daily flows have increased from about 5 300 BTC to 7000 BTC today, which represents a steady rise during the past month,” More “QuickTake” post From Darkfost contributing.

“Although this height is not particularly sharp yet, it ends from the long, long -standing trend, which has been present since March, indicating a shift in the investor’s behavior.”

Merchant: Weekend BTC PRICE Action unusual

As Cointelegraph mentioned, the sale and disposal event extended beyond investors from the private sector to the institutional field.

Related:Arthur Hayes says, Bitcoin can recover to $ 100,000 on the total opposite winds

The total external flows of the boxes on the stock exchange in the United States (ETFS) reached 812 million dollars on August 1, the second highest daily degree in the registry.

The request for the application of the application book, wandering the famous trader and trader SKEW participating in the big market in an attempt to go out.

“A very big quote like this on the weekend shows that a very big player needs to save the risk before Sunday – next week,” X followers said Saturday, “is not the average weekend price.”

“Since weekends are often unprocessing and have wider differences, this means that the office must quote adequate liquidity to facilitate the large customer who sells this risk without causing the market slide.”

BTC/USD has shaved $ 114,000 at the time of writing this report, for all data from CointeleGraph Markets Pro and Tradingvief1.3 % per day.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.