Bitcoin whale transaction volume has dropped by more than 40% recently
On June 24th, according to Santiment's statistics, the total number of whale transactions in Bitcoin (worth $100,000 or more) in the past two days was 9,923, a decrease of 42% compared to the previous two days' record of 17,091. The change in whale behavior occurred as Bitcoin's price dropped from $64,685 to $63,422, and further dropped to $62,393 at the time of this article's publication.
In addition, Ki Young Ju, CEO of CryptoQuant, stated that whale traders betting on the future price of Bitcoin have also withdrawn. Whale traders on derivative exchanges are in a risk-averse mode, a term used to describe the bearish change in market sentiment.
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.
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