Bitcoin Whales Dumped Over 36,000 BTC in Under a Week and the Chart Shows Why
BeInCrypto
Bitcoin whales have offloaded 36,000 BTC amid bearish technical signals, increasing the risk of a potential market long squeeze.Summary
Bitcoin is currently exhibiting signs of potential price correction as major whale cohorts have offloaded over 36,000 BTC within a single week. Technical indicators, including consecutive bearish divergences in the Relative Strength Index (RSI) and failed breakout attempts, suggest weakening momentum. Furthermore, derivatives data reveals that long positions heavily outweigh shorts, creating a significant risk for a long squeeze if the price drops below critical support levels like $73,484.
(Source：BeInCrypto)