The post Bitcoin Price Below Realized Level Raises Concerns of Further Decline Amid Whales’ Selling Activity appeared on BitcoinEthereumNews.com.

Bitcoin has recently dipped below its realized price of $69,352, indicating a potential shift to prolonged bearish momentum as selling pressure mounts. As the cryptocurrency struggles around the $68,608 mark, concerns grow that Bitcoin could retreat to further lows, with significant implications for market sentiment and investor behavior. According to CryptoQuant, the current realized price surpasses Bitcoin’s market value, reflecting the hesitance of large holders to accumulate amidst continued selling, a trend corroborated by recent data. Bitcoin dips below its realized price at $69,352, signaling potential bearish momentum as selling prevails over buying amid whales offloading assets. Bitcoin Dips Below Realized Price: What This Means for Investors Bitcoin (BTC) recently crossed below its realized price, a key indicator that often signals changing market dynamics. This price, calculated at $69,352, reflects the average purchase cost of all circulating Bitcoin. As it now stands at approximately $68,608, the ongoing downturn has raised concerns about the immediate future of BTC’s price trajectory. The Implications of Falling Below Realized Price Breaking below the realized price can be a troubling sign for investors. Historical data suggests that prolonged trading beneath this threshold typically aligns with increased selling pressure, indicating that market participants may be more inclined to sell rather than buy. This behavior was recently observed when BTC dropped from above $69,000 to a low of around $66,611 within a few days, highlighting the volatility at play. Whale Activity: A Key Indicator of Market Trends Monitoring the activity of crypto whales—addresses holding between 0.1% and 1% of Bitcoin’s total circulating supply—can offer insights into market movements. Data from IntoTheBlock shows a negative netflow, implying these significant holders are parting with their assets, further intensifying bearish sentiment. This trend emphasizes that if such net selling persists, BTC may struggle against downward pressure as it faces off…

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Filed under: News - @ November 3, 2024 9:21 am