Is Bitcoin going up or down? Every analyst has their own answer and as investor sentiments get muddled, so does the king coin’s price.
Something definitely has bulls in a tizzy and it’s the fact that more than 25,000 BTC moved off the exchanges in the past day.
📊 25,878 #Bitcoin were moved off of exchanges in the past 24 hours, the largest difference between outflow & inflow in 5 weeks.
So which group of traders is responsible for these outflows? You might be tempted to point at the whales, but Santiment data revealed that whale transactions worth above $100,000 did not see any significant spikes in the past few days.
On that note, it’s important to see if sentiment levels are low enough to set off a rally, or if investors are feeling dangerously euphoric.
For its part, Chainalysis analyzed the liquidity of the crypto market to conclude that if crypto was being used to violate sanctions, these would likely be small amounts.
She has a Masters in Journalism and her areas of study include crypto-regulation, digital society, privacy, and intersectionality.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.