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Analysts say surging Bitcoin whale inflows heighten chance of BTC correction

Published 12/03/2020, 04:18 PM
Updated 12/03/2020, 06:00 PM
Analysts say surging Bitcoin whale inflows heighten chance of BTC correction

Since hitting a new all-time high, Bitcoin (BTC) price has been unable to flip the $19,400 level to support. This is likely due to the possibility that whales are selling aggressively in the $19,400 to $19,600 range to prevent the all-time high from being breached. Above the record high, there is little resistance until a new ceiling is achieved.

Bitcoin whale inflows into exchanges. Source: CryptoQuant

Data from both CryptoQuant and Whalemap show that the $19,500 level is an important area for whales.

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