FTX as an influencing factor in Bitcoin accumulation trend
Hello dear and loyal readers, may this opportunity serve to share with all of you some data on how the FTX case can be a determining factor that can negatively influence the trend of accumulating Bitcoin in the following weeks, months and even years.
According, to information and data released by Whale Map, in the last few days, people were moving Bitcoin that they had not touched in years, the Bitcoin price could fall further to 15K, as medium-term holders, who bought in the last 3-6 months, are sending their BTC holdings to exchanges.
In this sense, what we see with the whale activity, and the short gap that separated the accumulation movements with those of liquidity introduction to the market, seem to support this theory, it would seem that it will be another not so optimistic week for Bitcon main cryptocurrency by market capitalization.
The unbalanced situation caused by the chaos of the FTX case in the cryptocurrency market, caused today there is less accumulation than in previous weekly reports, and in general the advance that Bitcoin had had seems to be in retreat..
The information disclosed by Whale Map complements the predominantly low accumulation trend, at least in terms of Bitcoin mobilized as it is estimated that about 99,206 BTC units went from exchanges to unknown wallets which is equivalent to 46.79% of the weekly total.
SOURCES CONSULTED
WhaleMap. Last couple of days people were moving BTC that they haven't touched for years. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: WhaleMap.
This is all a plan by the bankers to consolidate and centralize crypto.
Check out my report on the FTX scam: https://steemit.com/sbf/@titusfrost/the-bankers-move-to-regulate-crypto-currency-via-sam-bankman-fried-ftx-alameda-ukraine-clintons
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As long as BTC is moved from proprietary wallets to exchanges it will most likely be to sell them, so the outlook for the price of BTC and the entire crypto market is grim.
If medium-term holders are exiting their positions, that will undoubtedly bring more pressure to the market and we will see the price of BTC fall even further, certainly not very optimistic news.
After certain interval we are seeing this type of disaster events and it makes everyone thinks that where is decentralization because the big player controlling the market and i think it will takes more time to become a strong decentralized market. Anyway i hope bitcoin will find bottom soon so we can see further good moves..Thanks for this post.