Cumulatively, these whales sold 28,935 BTC in the last 17 hours after BTC hit $19,000. This may have inadvertently caused BTC to experience hiccups before attracting more investors again. At the time of writing, BTC is trading at $19,002.07, according to CoinGecko.
As seen on the chart above, whales have sold huge quantities of BTC after it breached the $19K level. This is only $1K short of reaching BTC’s all-time high last December 2017. Also, the relative strength index (RSI) showed that from the moment BTC reached $19K, massive selling happened. This caused it to plummet from an overbought 74 to as low as 40.
Meanwhile, buy orders are now mounting, causing BTC to regain its $19K price despite retreating to $18,600 earlier. In fact, many traders hope that BTC will reach the 1.1382 Fibonacci extension (around $25K) soon.
At the moment, all eyes are on Bitcoin and on whether it will surpass its all-time high in 2017. Also, other altcoins are having their own respective bull runs, especially XRP and Ethereum.
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