Bitcoin investors have started to deposit substantial amounts of their portions into exchanges, on-chain data shows. Consequently, a popular analyst expects the asset’s price to stay at current levels or, most probably, to keep dumping in the following days.
Bitcoin Whales’s Deposits to Exchanges Skyrocket
Bitcoin’s price was on a wild rollercoaster ride in the past week or so with Elon Musk receiving most of the blame. After he and Tesla announced that customers can no longer purchase electric vehicles with BTC, the asset went on a downfall.
In days, the primary cryptocurrency fell by more than $15,000, resulting in reaching a new three-month low at just over $42,000.
Aside from the short-term price impact, Musk’s words also spurred the community into a continuous debate about BTC’s features, energy consumption, efficiency, and more. This may have caused more serious disruptions for bitcoin investors, especially in the short run.
Data from CryptoQuant suggests that holders h
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