For Bitcoin Investors, This Metric Foreshadows Upcoming Price Changes
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For BitcoinInvestors, This Metric Foreshadows Upcoming Price Changes
The second fiscal quarter of 2022 did not end very well for Bitcoin(BTC). In what can be termed as extreme market conditions, the flagship cryptocoin is struggling on all fronts. Investors have diminishing returns, whilecrypto institutions are falling like dominoes. However, there is a silverlining here as well.
Fresh from the wounds of its worst quarter in a decade,bitcoin continues to divide opinion. King Coin is currently trading below$20,000 after a failed pullback. However, some on-chain metrics are suggestinga possible revival of the cryptocurrency.
Will bitcoin overcome these tough months and now fulfill themax prediction? Whale movements have always been a leading indicator of bitcoinprice action. Recently, during the Terra and 3AC crises, whales have beenhoarding BTC. Furthermore, according to data from Glassnode, whales have recentlyadded over 140,000 BTC per month.
Bitcoin Investors, Cryptocurrency, King Coin, Bitcoin Price, Whales Movements, Terra, 3AC, Glassnode, Crypto Institutions