In the volatile world of cryptocurrencies, Bitcoin is experiencing another decline, dropping below the $111,300 mark. This crash occurred in the wake of a significant surge in activity from 'whales'—large investors holding substantial amounts of $BTC . According to analytical platforms like Glassnode, the transaction volume from wallets with large holdings increased by 25% in the last 24 hours, which often signals potential market pressure.
Experts link the decline to several factors. First, whales are likely taking profits after the recent rally when Bitcoin peaked at $117,000. Second, macroeconomic news, including increased regulatory pressure from the SEC and inflation signals from the Fed, has heightened uncertainty. Trading volume on exchanges has increased by 15%, with a focus on sales from institutional players.
Historically, spikes in whale activity precede corrections, as seen in 2021. Analysts from CoinDesk forecast a potential further decline to $105,000 if whales continue their sell-offs. However, some experts, like David Bailey, emphasize Bitcoin's long-term potential as a hedge against inflation.
Investors are advised to avoid panic and monitor on-chain metrics. This incident serves as a reminder of the risks in the crypto market, where large players can dictate trends.
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