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Tuesday

26 January 2021

Analysts say surging Bitcoin whale inflows heighten chance of BTC correction

Analysts say surging Bitcoin whale inflows heighten chance of BTC correction


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Since hitting a new all-time high, Bitcoin (BTC) price has been unable to flip the $19,400 level to support.

This is likely due to the possibility that whales are selling aggressively in the $19,400 to $19,600 range to prevent the all-time high from being breached.

Data from both CryptoQuant and Whalemap show that the $19,500 level is an important area for whales.

Furthermore, whale inflows to exchanges have been increasing as the price of Bitcoin surpassed $19,500.

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cointelegraph.com
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