亚洲国产日韩欧美一区二区三区,精品亚洲国产成人av在线,国产99视频精品免视看7,99国产精品久久久久久久成人热,欧美日韩亚洲国产综合乱

Home web3.0 Bitcoin (BTC) Price Drop to Continue? Whales Dump Bags as Bitcoin ETF Outflows Surge

Bitcoin (BTC) Price Drop to Continue? Whales Dump Bags as Bitcoin ETF Outflows Surge

Sep 08, 2024 am 03:36 AM
bitcoin 000 Price Whale Activity $53

In its latest report, blockchain analytics platform Lookonchain reported that a Bitcoin whale sold 100 Bitcoins worth $5.35 million.

Bitcoin (BTC) Price Drop to Continue? Whales Dump Bags as Bitcoin ETF Outflows Surge

Blockchain analytics platform Lookonchain reported that a Bitcoin whale sold 100 Bitcoins on Friday, September 9, as the BTC price crashed below $53,000.

The Bitcoin whale sold its Bitcoins at an average price of $53,546, minting a profit of $206,000 on its massive event. Notably, the whale bought its Bitcoins at an average price of $51,480, which is close to the breakeven point.

According to data from IntoTheBlock, around 836,000 addresses bought 402,800 BTC at a price between $51,113 and $54,303. These addresses, holding over $21 billion worth of Bitcoin, are likely to sell in the future, putting downward pressure on the BTC price.

Whale deposits to Binance have continued in recent times as big players seem to be losing confidence in the market. Several market analysts are already stating that subdued activity can take the BTC price below $50,000.

Institutional players are also showing signs of nervousness, as Bitcoin ETF outflows have surged over the past two weeks.

On Friday, the U.S. Bitcoin ETFs saw $170 million in outflows, bringing the total outflows to $706 million. Fidelity’s FBTC faced the most outflows with $85.5 million, while Grayscale’s GBTC outflows surged to $52.5 million.

Bitcoin Price Drop To Continue?

The BTC price faced strong selling pressure on Friday following the 4% crash in Nvidia stock. As per the Coinglass data, the 24-hour Bitcoin liquidations have surged to $114 million. Following this development, the broader crypto market has now come under selling pressure.

Other macro factors have also contributed to this overall negativity. The U.S. non-farm payrolls report for August showed lower-than-expected job growth at 142,000, below the estimated 165,000. On the other hand, unemployment remained steady at 4.2%, matching forecasts and slightly lower than July’s 4.3%.

Several market analysts are predicting the BTC price to drop below $50,000 before resuming the uptrend. BitMEX CEO Arthur Hayes wrote:

“BTC is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short. Pray for my soul, for I am a degen.”

After falling to $52,600 earlier today, the BTC price has covered back above $54,000. According to Rekt Capital, the BTC price needs to give close above $53,250 to avoid the confirmation of the downtrend.

The above is the detailed content of Bitcoin (BTC) Price Drop to Continue? Whales Dump Bags as Bitcoin ETF Outflows Surge. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undress AI Tool

Undress AI Tool

Undress images for free

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

PHP Tutorial
1488
72
Bitcoin (BTC) Poised for a 90% Rally as Puell Multiple Flashes Golden Cross Bitcoin (BTC) Poised for a 90% Rally as Puell Multiple Flashes Golden Cross Nov 20, 2024 am 10:28 AM

Onchain data analytical platform CryptoQuant has flagged a key Bitcoin (BTC) metric that suggests a potential 90% rally for the leading cryptocurrency.

Bitcoin Surpasses $90,000, Shiba Inu Momentum Stalls, Solana Surges Bitcoin Surpasses $90,000, Shiba Inu Momentum Stalls, Solana Surges Nov 20, 2024 am 11:21 AM

In addition to surpassing earlier highs, Bitcoin has reached a critical price level of $92,000, which has strengthened its position in the current bullish cycle.

Avalanche (AVAX) Price Analysis: What's the Next Direction? Avalanche (AVAX) Price Analysis: What's the Next Direction? Nov 19, 2024 pm 04:20 PM

The price of Avalanche (AVAX) has risen above the support level of $22 and has broken above the moving average lines and resistance at $30.

Bitcoin (BTC) Set to Outperform Gold (XAU) Even Without US Government Backing, Says Luke Gromen Bitcoin (BTC) Set to Outperform Gold (XAU) Even Without US Government Backing, Says Luke Gromen Nov 20, 2024 am 03:20 AM

Veteran macro investor Luke Gromen believes Bitcoin (BTC) is set to outperform gold even without the backing of the US government.

Bitcoin's Journey to $1M Relies on Scarcity, Adoption, and Market Dynamics, Not Magic Bitcoin's Journey to $1M Relies on Scarcity, Adoption, and Market Dynamics, Not Magic Nov 19, 2024 pm 09:36 PM

Bitcoin ETF inflows and treasury adoption push institutional confidence and price growth. Reaching 3% of global wealth could propel Bitcoin's market cap to $20 trillion.

Could Bitcoin (BTC) Price Hit $100k This Month? Here's What the Charts Say Could Bitcoin (BTC) Price Hit $100k This Month? Here's What the Charts Say Nov 19, 2024 am 09:34 AM

As Bitcoin continues its upward trajectory, analysts are increasingly discussing the possibility of it reaching $100k in November.

Bitcoin Price Prediction: BTC Projected to Hit $200,000 by 2025, $1 Million by 2033 Bitcoin Price Prediction: BTC Projected to Hit $200,000 by 2025, $1 Million by 2033 Nov 19, 2024 pm 03:26 PM

Bitcoin (BTC) is projected to achieve $200.000 by the end of next year, increasing from the $150.000 price target last year.

Bitcoin, Ethereum and Dogecoin: Browse the Ocean of Crypto Bitcoin, Ethereum and Dogecoin: Browse the Ocean of Crypto Jul 02, 2025 pm 10:39 PM

A potential breakthrough for Bitcoin eyes, Ethereum expands its ecosystem, and Dogecoin…well, it’s still Dogecoin. Let's dive into the latest cryptocurrency updates! The crypto world never stops! Bitcoin is testing new highs, Ethereum continues to build, and Dogecoin is still... Dogecoin. Let’s take a look at the latest progress in Bitcoin, Ethereum and Dogecoin to see what is changing in the digital currency field. Bitcoin: Horizontal fluctuations and high forecasts Bitcoin has performed relatively smoothly recently. Although it is in a bull cycle, the price is still consolidating sideways. Cryptocon pointed out that the market is currently in a slow rising stage and the rebound time is still short. But don't be discouraged! TedPillow believes Bitcoin will follow the S&P 500 index