Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s recent bounce back was reportedly due to whales accumulating BTC, but data suggests otherwise.</li> 
 <li>Market volatility and potential liquidations could be triggered due to the increase in leveraged positions.</li> 
</ul>  
<p>On September 2, Bitcoin [BTC] experienced a 3% increase during the trading session, a performance supposedly sparked by reports of whales accumulating <a href="https://coineagle.com/price/bitcoin/">Bitcoin</a>.</p> 
<p>However, the cryptocurrency’s struggle to maintain this momentum casts doubt on these reports.</p> 
<h2 id="whale-activity-and-market-volatility">Whale Activity and Market Volatility</h2> 
<p>Lookonchain data indicates that whales have been moving Bitcoin onto exchanges despite healthy outflows, suggesting an attempt to incite more market volatility.</p> 
<p>In contrast, negative netflows from Bitcoin ETFs have been observed, which does not inspire much confidence.</p> 
<p>An assessment of Bitcoin addresses showed a decrease in the number of addresses holding between $100,000 and $1 million worth of BTC from late August to early September.</p> 
<h2 id="inducement-set-up-and-leveraged-positions">Inducement Set-Up and Leveraged Positions</h2> 
<p>The data confirms that a significant number of whales have contributed to sell pressure, possibly as part of an inducement attempt to hype the market and provide exit liquidity for sellers.</p> 
<p>This could explain Bitcoin’s struggle to sustain recovery above $60,000.</p> 
<p>An increase in long positions indicates growing expectations of more upside, coinciding with a resurgence of appetite for leverage.</p> 
<p>The market’s embrace of more leverage could potentially lead to heavy liquidations in the event of another crash.</p> 
<p>At press time, Bitcoin was trading at $58,861, after a 0.47% discount in the last 24 hours.</p> 
<p>This suggests that the market has been struggling to maintain momentum, aligning with the observed sell pressure from whales and highlighting the possibility of liquidations if the price dips lower.</p> 
<p>The next 24 hours will be critical for Bitcoin as the market awaits the next FED decision regarding interest rates, which could result in a volatile second half of the week.</p>

Bitcoin Whales: Efforts to Increase BTC Market Volatility Unveiled

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CoinEagle.com

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