Bitcoin (BTC) 
$116,523.39 price Yesterday after exceeding $ 123 thousand today fell below 117 thousand dollars. Inflation data was also bad. 80 thousand Bitcoin -sized transfer triggered the decline at the beginning of July and triggered sales in the middle of the month. So to whom are they sold? Are these sales for the decline in crypto currencies?
Bitcoin whale sales
80 thousand worth about 10 billion dollars dating from 2011 BTCWe talked about July. Since they were 14 years of assets, they were at a very low cost and there was a risk of returning to sale with large gains. Again yesterday, BTC was only around 122 thousand dollars, we mentioned that this incident could cause a decline soon.
As a matter of fact, it was as expected. Yesterday, BTCs started to collect in different wallets. Assets were sent to Galaxy Digital. They also transferred BTCs for sale to stock markets such as Bybit, Binance. The first sales were 16,000 BTC.
Yesterday, 20 thousand BTC wallets preparing the whale in the first 20 thousand BTC -sized sales after completing the second wallet passed. With 200-300 BTC-sized sales, the gradually melted assets still triggered the decline.
Anlcnc1 wrote the following in his assessment;
“Galaxy Digital has begun to send Bitcoins to the stock market for sale, but some are distributed to newly opened wallets.
Fidelity, Bitcoin ETF He also bought Bitcoin through Galaxy Digital. When Germany sold Bitcoin before, Fidelity and Blackrock He was buying some of them through Coinbase. These Bitcoins can be purchased by ETFs.
The whale, which has 80k Bitcoin, divided 40K BTC into two separate wallets in the form of 20k yesterday. Instantly, 40k Bitcoin’s sale to Galaxy Digital was completed. In four separate wallets, a total of 40k Bitcoin remained in the form of 10K. I will share if they have no movement yet. Galaxy Digital does not sell to the stock market immediately after the transfers took place and then sells 200-300 BTC in pieces. ”
Bitcoin and Crypto Coins
BTC price It is at the level of 117 thousand dollars and it is protecting this area for now. At the time of the article, the US market was opened for a short time, and if the decrease in inflation with the opening of the stock market, the impact of these sales may grow.
Investors may need to be cautious against possible sudden decreases, especially in subcoins, and to adjust the stop levels well. Taking above TÜIt does not draw a good picture of the effect of Fe tariffs on inflation. If the data returned to the rates in April on August 1, the increase in inflation may be higher, and the market has not yet priced it.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
