$BTC just hit the mark of 76,000 USD, didn't the selling pressure surge dramatically? On-chain data is showing a signal that individual investors often overlook.
In just 1 hour, more than 9,000 bitcoins have been deposited on exchanges. This is a significant number, signaling that "whales" are getting ready for a profit-taking after a remarkable growth period.
Here are some perspectives to help you stay calm in the face of volatility:
Selling pressure in the price range of 75,000 to 76,000 USD is understandable as many buy positions from the beginning of the year have reached expected profits.
The strong inflow of funds onto the exchange often creates technical corrections, helping the market to eliminate some excessively high leverage positions.
Instead of panicking or FOMOing with the crowd, observing price reactions at support zones will be safer for your wallet. 📉
When good news floods in and prices hit new highs, that's when you need to be the most vigilant. Don't let excitement cloud the real numbers from on-chain data. 📊
Are you choosing to hold long-term or will you optimize profits with the whales at this price point? Please share your perspective below.
