A large Bitcoin whale continues to deposit significant amounts into Kraken, potentially signaling a liquidation strategy. This activity raises concerns about market volatility and downward pressure on Bitcoin's price.
A whale recently deposited 778 BTC, approximately $72 million, into Kraken . This follows a pattern of large deposits by the same whale since December 20th, coinciding with a market decline. While the whale has withdrawn significant amounts, they still hold a substantial 24,665 BTC. This consistent activity raises concerns about a potential liquidation strategy, possibly driven by market volatility or unknown factors.
Large sell-offs can push prices down, exacerbating the current downward pressure Bitcoin has been facing since December 20th. The Bitcoin price currently stands at $92,367, showing a slight daily decline of 1.1%. Consolidation within the range of $91,375 to $94,838 indicates low volatility. Technically, Bitcoin has fallen below its 50 EMA, suggesting further short-term challenges. The next key support level is at $76,160, the 200 EMA. Failure at this level could trigger more selling pressure, potentially fueled by whale activity
Bitcoin Whale Kraken Market Volatility Liquidation
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