Crypto Quant Research Director: The pullback in BTC is due to short-term traders and whale profit-taking
Crypto Quant research director Julio Moreno tweeted that there is a belief that the current Bitcoin price correction is due to GBTC selling Bitcoin. In fact, GBTC has sold approximately 60,000 Bitcoins, while other ETFs have collectively purchased around 72,000 Bitcoins. The sellers of Bitcoin are the Bitcoin holders (short-term traders and whales) who took profits after last year's rebound (the approval of ETFs was a "sell-the-news" event).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Fitch "shows mercy" and maintains France's A+ rating, but warns that uncontrolled deficits could lead to a downgrade
Fitch Ratings recently announced that it is maintaining France's sovereign credit rating at "A+" with a "stable" outlook, even though the agency has once again warned that sustained fiscal deficits and rising public debt amidst increasing political uncertainty could still trigger a future rating downgrade.
Here’s Why XRP Price Just Crashed Sharply
What Can We Expect from Bitcoin (BTC) and Dogecoin (DOGE) Prices in the Coming Days?
BTC Recovers From Sub-$77K Dip, XRP Drops Below $1.40: Weekend Watch
Crypto prices
More
