Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
BTCUSD faces a bearish outlook as whale activity surges. Recent data from CryptoQuant highlights a concerning trend for BTCUSD, pointing towards potential bearishness. The Exchange Whale Ratio, which measures the influence of large Bitcoin holders by comparing their deposits to total exchange inflows, has seen a significant uptick.
Bitcoin “Exchange Whale Ratio” Is Rising: Why This Could Be Alarming https://t.co/YgUzzR2Ins pic.twitter.com/x7Ja7FZajH
— Cammy Amster (@CammyAmster) June 17, 2024
This metric suggests that major investors, known as whales, are increasingly moving their holdings to exchanges, potentially to sell. Such behavior typically indicates a growing selling pressure from these influential market participants. Historically, periods of high Exchange Whale Ratio have often preceded downturns in Bitcoin’s price, signaling a cautionary outlook for investors. Analysts are closely monitoring this trend, as it may indicate a shift towards bearish sentiment in the market for Bitcoin.
Key Bitcoin Levels To Watch – June 2
The BTC/USD chart shows a bearish trend forming. After hitting resistance around $73840, the price started declining and broke below the 9-day SMA at $67440. The MACD indicator confirms this bearish momentum with a crossover.
Immediate support at $65520 might hold temporarily, but a break below this level could lead to a drop towards $56500. If the bearish trend continues, the price may test significant support around $50510. Overall, the outlook is bearish with potential further declines.
BTCUSD Key Levels
Resistance Levels: $73840, $80000, $84000
Support Levels: $65520, $56500, $50510
Bitcoin Metrics
Total Market Capitalization: $2.36T
Bitcoin Market Capitalization: $1.29T
Bitcoin Volume: $36.49B
Market Rank: #1
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
