The price of bitcoin fell by 3.36% in the last 24 hours, down to USD 106,364, and accumulated a weekly decline of 7.1%, in a context of overall weakness in the crypto market, which dropped by 4.8%. The correction is due to a combination of massive sales by large investors, a cyber attack on the DeFi platform Balancer, and a technical breakdown of key supports.
Sale of 'whales' intensifies the pressure
Large bitcoin holders ('whales') liquidated 17,265 BTC, worth over USD 1.8 billion, on exchanges like Kraken and Binance. Among the most relevant movements, a wallet inactive since 2018 transferred 2,300 BTC (USD 250 million) to Paxos.
