The entire cryptomarkt is on sharp. Bitcoin (BTC) fell by more than three percent in 24 hours to $ 114,700. Ethereum (ETH) and XRP have to endure it even heavier, with losses of six percent and more. According to data from cryptoquant, the end of the unrest is not nearly in sight and the misery could last for months.
Whales and Miners take a profit
According to on-chain data from cryptoquant, we see signals that indicate increasing sales pressure. Large investors, also called ‘Whales’, have made massive profit for the third time since mid -2024. An old wallet recently sold no less than 80.201 Bitcoin, worth more than 9.6 billion dollars.
Miners also contributed to the decrease. Shortly after the previous all-time High, they jointly sold around 15,000 BTC. It seems that both old and new big players grab their moment to secure profits, putting extra pressure on the course.
Traders count on a significant fall in the Bitcoin course
The fear is also good for traders. Many of them buy so-called put options, with which they cover themselves at a falling course. The amounts they are aiming for? Between $ 80,000 and 100,000. That means that many are preparing for substantial losses.
According to Cryptoquant, in the worst case, the Bitcoin Koers could fall back by 10 to even 30 percent towards September. That scenario sounds fierce – but it is becoming increasingly realistic now that confidence is crumbling.
Will there be a new revival in the fall?
Yet not everyone is gloomy. If you look beyond the summer, you also see bright spots. Cryptoquant expects the market to be able to put on again in the fourth quarter. That period is historically known as profitable for Bitcoin. Once the soil has been reached, even a new all-time high is within reach before the end of the year.
The big question: keep investors cool and use this dip to step in – or does the panic strike further?
Source: https://newsbit.nl/cryptoquant-bitcoin-koers-dreigt-maandenlang-te-dalen/
