Edris
Bitcoin whales are selling at a high rate
✔️ Whales (investors with huge capital) who are one of the stronger hands in the Bitcoin market, have recently entered drawdown region, as the market has dropped below their realized price and the significant $20K level. This means that many of these large entities are now holding their coins at a loss, forcing some of them to sell before a bigger loss is inflicted on their portfolios. ✔️ The Exchange Whale Ratio metric which is a useful tool for tracking the Whales behavior, is showing a massive rise over the past few weeks, indicating a substantial increase in Bitcoin deposits to the exchanges by the whales. It seems like many whales have reached their risk threshold and are offloading their Bitcoin at these price levels. ❗️This selling pressure and rise in supply would likely cause another drop in the short-term. However, it also means that the bottom could be close, as Bitcoin seems to have entered the final stage of the bear market.