A Cautionary Note from the CEO of an Analytics Company: “Massive Whales Are Making Intriguing Moves”
The head of the cryptocurrency analysis firm CryptoQuant, Ki Young Ju, has revealed some fascinating insights into the actions of major Bitcoin whales.
According to Ki Young Ju, data indicates that large HTX whales have recently entered significant long positions at the $69,000 mark. While HTX may not be a hot topic at the moment, its significance lies in being an exchange owned by cryptocurrency tycoon Justin Sun.
Furthermore, Ki Young Ju noted that other substantial whales have also taken sizable long positions on Bybit at the same level of $69,000.
As of the time of writing, the price of Bitcoin has remained relatively stable, hovering around $69,717. Last week, following better-than-expected employment data and a notable drop in meme coins during a live stream by influencer RoaringKitty, BTC witnessed a considerable loss in value.
The upcoming week is expected to be pivotal for the cryptocurrency market, with the FED interest rate decision and CPI data set to be announced on Wednesday, along with the release of PPI data on Thursday.
Please note that this article does not provide investment advice.
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