Brace for impact? After hitting $42K, Bitcoin price volatility may rise

Brace for impact? After hitting $42K, Bitcoin price volatility may rise


Bitcoin whales are selling while buyers in the U.S. are accumulating, who will get the upper hand, and where will BTC’s price go next?

The price of Bitcoin (BTC) achieved a new all-time high above $42,000 on Jan. 8, surging by 9% in merely three hours. At the time, there was a high premium on Coinbase, which meant U.S. buyers drove up the market by aggressively accumulating BTC. But, there is continuous selling pressure coming from Asia, particularly from South Korea.

Bitcoin corrected sharply after rising to $42,000, declining by over 7% in about eight hours. The sell-off coincided with significant whale activity across major exchanges. Trading activity in the altcoin futures market also demonstrated a similar trend. For instance, on Jan. 9, a whale unloaded a big portion of Ether (ETH) longs on Bitfinex, taking profit for the first time since March 12.

Trending: Mike Lindell Notes From Meeting With President Trump Were Captured By The Media, Included “Insurrection Act” “Trigger Emergency Powers” And More!

Whales have been selling en masse since the start of 2021. As an example, when

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend