CandleFocus $850 Million in Bitcoin Sees Quick Sell-Off – What's Going on?
2024-09-10
Author: Content Editor
The cryptocurrency trader and analyst Ali Martinez has revealed a significant sell-off of Bitcoin as the leading digital currency experienced a price increase. Short-sellers dumped 14,816 BTC, valued at nearly $850 million, as Bitcoin rose by 5.25% to reach the $57,520 zone. Despite a minor decline earlier in the day, Bitcoin quickly regained its losses and is currently trading at the $57,000 price level. Additionally, there has been increased activity from whales, with large transactions of 4,699 BTC and 3,300 BTC being observed. Meanwhile, several dormant Bitcoin wallets have recently been reactivated, showing significant value increases since their last use.
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