Crypto Whale Transfers 7,750 Bitcoin from Coinbase to Gemini
— Recent market correction, Jump, Holders, Latest crypto winter witnessed, Transfer — 1 min read
Bitcoin failed to stay above the price level of $20,000 after a drop of almost 4% in its value. Despite a dip in the overall supply of Bitcoin at exchanges, the latest crypto winter witnessed a boom in BTC exchange flows. While Bitcoin has lost more than 70% of its value from the all-time highs in November 2021, the total number of BTC holders has jumped. Long-term Holders have experienced a long-overdue, but seemingly classic capitulation in June, driven mostly by 2020-21 cycle investors, according to Glassnode. Glassnode noted that all macroeconomic indicators related to Bitcoin are likely to be put to the test in the coming months, with many of the key macro indicators at all time lows. Source