Bitcoin struggles at $83,000 sell wall as whales distribution flip into net selling
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7 Articles
Is Bitcoin’s $80,000 wall about to crack, or are whales ready to sell?
Bitcoin has dipped below $79,000 on Tuesday as buyers struggled to push the cryptocurrency through a significant concentration of selling pressure between $80,000 and $82,850. The broader cryptocurrency market remained bullish, with the Fear and Greed Index registering 72. A reading in this range indicates elevated investor optimism, although it can also suggest that market participants are becoming increasingly aggressive. However, Bitcoin’s sh…
Bitcoin failed to break through the $83,000 resistance level, and the trend in wallet groups turned bearish. According to Glassnode data, the overall trend in wallet groups shifted to a clear sell direction for the first time since early June, with whales holding at least a thousand Bitcoins leading the way. Conversely, the expected crossover between the 50 and 200-day moving averages is creating a counter-signal of an uptrend. The cryptocurrenc…
📉 Glassnode data shows that all investor groups have net-sold Bitcoin, highlighting weakness in spot demand. ⚡ The market experienced its sharpest delegitimization since 2023; increasing futures positions are being observed again. 📈 The recovery in realized market capitalization and a possible “golden cross” support bullish expectations. 🎯 Jiang Zhuoer sees it difficult to break above the $83,000-$84,000 region for $BTC in the short term. Rea…
Whales with more than 1,000 BTC lead distribution that drops Bitcoin below $80 thousandBallies distribute Bitcoin and price goes back to falling below $80 thousand
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