Bitcoin is currently hovering above a key support level, and any minor selloff triggered by a group of traders could potentially snowball into a wave of intense selling pressure. This fragile situation is underscored by data from the on-chain analytics firm Santiment, which revealed that over 30,000 BTC, valued at approximately $1.83 billion, has been transferred to crypto exchanges within a short period. 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. 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 ..
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