🔶️ Binance recorded massive Bitcoin withdrawals of over 8,000 BTC 🐋🚨
Massive withdrawals ranging from 4,000 BTC to over 8,000 BTC were observed as the price of Bitcoin tested the $100,000 target.
As the price of Bitcoin broke new all-time highs reaching $100,000, massive withdrawals by large investors from the Binance exchange ranged from 4,000 to over 8,000 BTC, according to a recent report by technical analyst "Darkfost" on the on-chain analysis platform CryptoQuant.
The analyst also stated in his post that they have “observed massive withdrawals ranging from 4,000 BTC to over 8,000 BTC while the price of Bitcoin tested the $100k target.”
🚨The supply of BTC at a loss could fall by 50% before a sell signal🚨
Bull markets for Bitcoin tend to end when the profitability of the supply crosses a certain threshold, argues CryptoQuant.
Reviewing the last bull market, which reversed at the end of 2021, contributor Onchain Edge revealed that supply profitability signals were in place for many months.
“When the % of supply loss of BTC falls below 4%, you should start aggressively selling BTC and wait for the next lows of the bear market,” states the accompanying comment.
Do your own research ☝️🪙 $BTC
