Bitcoin Price Crash: $1.83 Billion Makes Its Way To Exchanges, Is A Bloodbath Coming?

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Considering the current average price of Bitcoin, this comes out to about $1.83 billion worth of BTC exchanging hands.  Related Reading: Standard Chartered Analysts Says Ethereum Price Will Reach $10,000 If This Happens #Bitcoin whales have sold or redistributed around 30,000 $BTC in the past 72 hours, totaling $1.83 billion! pic.twitter.com/y9FsARYrmM — Ali (@ali_charts) October 10, 2024 Exchange inflow data from IntoTheBlock, which tracks the activities of various holder cohorts, reveals that on October 8 alone, around 18,220 BTC was moved to exchanges.

Undoubtedly, such a huge amount of BTC entering crypto exchanges is problematic, especially in terms of a bullish outlook for the cryptocurrency.30,000 BTC Sold In 72 Hours According to Santiment data highlighted by crypto analyst Ali Martinez, Bitcoin addresses holding between 1,000 BTC and 10,000 BTC have sold or redistributed around 30,000 BTC in the past 72 hours.

In terms of exchange reserve, data from CryptoQuant shows a steady decline in the amount of BTC held on wallets controlled by crypto exchanges since the beginning of October.

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Author / Journalist: Best Owie

Category: Crypto

Markets: United Kingdom

Topics: Btc price BTCUSDT Bitcoin Bitcoin news BTC news Bitcoin Btcusd Bitcoin price Btc

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Article Type: News Report

Published On: 2024-10-11 @ 22:30:21 (13 hours ago)

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Language: English

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