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 <li>Whales move over 1,500 BTC back to exchanges, reflecting a $30.54M loss and raising concerns about potential market volatility.</li>   
 <li>Fresh whale activity sees 4,600 BTC withdrawn from Bitfinex, suggesting strategic accumulation during a market dip.</li>   
 <li>Bitcoin liquidations hit $42M as prices drop, with long traders suffering 94% of the losses, signaling shaky market conditions.</li> 
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<p>Bitcoin whales have been making moves, with large transactions highlighting potential shifts in market sentiment. In the past 30 hours, a whale entity deposited 1,500 BTC, worth $92.95M, back into an exchange. This move comes after withdrawing 8,510 BTC from Bitfinex earlier in June and August.&nbsp;</p>   
<p>These whales accumulated their BTC at an average price of $64,434 but have started selling at a lower price of $61,965, reflecting a potential $30.54M loss. Their wallets still hold 7,010 BTC, valued at $424.6M.</p>   
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   https://twitter.com/spotonchain/status/1844188129948991903 
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<h2 class="wp-block-heading" id="h-whale-accumulation-points-to-potential-institutional-activity">Whale Accumulation Points to Potential Institutional Activity</h2>   
<p>Besides this, another whale, identified as "bc1qh," withdrew 4,600 BTC ($291M) from Bitfinex within the last 8 hours. This accumulation occurred at a price of $63,209, suggesting a strategic move to buy during a market dip.&nbsp;</p>   
<p>Moreover, since June 12, three other whales—likely connected to "bc1qh"—have <a href="https://cryptonewsland.com/bitfinex-may-be-only-winner/" target="_blank" rel="noreferrer noopener sponsored nofollow">withdrawn 3,910 BTC ($257M) from Bitfinex</a>, with their most recent transaction happening only three days ago. This steady withdrawal pattern raises questions about possible institutional involvement in accumulating Bitcoin.</p>   
<h2 class="wp-block-heading" id="h-technical-indicators-show-market-challenges">Technical Indicators Show Market Challenges</h2>   
<p>On the technical side, Bitcoin's price action has followed a trend between key Fibonacci retracement levels. Initially, Bitcoin experienced an upward trend, peaking at $63,741, which aligns with the 0.382 retracement level.&nbsp;</p>   
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 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfUD_ZwLGH2sCGmDd2Dz1a2gYii0O6H5DIAZygJ9KqmDXWyJJc2oyq9aFwiI7MI7I7Zhj5tSEc1I4EbvQWVL0tIaSbUAM4IlOm3S4tq3kPi_F4hr2b77CruAR4RztXgFHCdAZyd_NEvp2MIvTcQD9wQqG8?key=nu70my6vkZlh-EqAYopMFw" alt="">
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<p>Source: <a href="https://bingx.com/en/spot/BTCUSDT/" target="_blank" rel="noreferrer noopener">BingX</a></p>   
<p>However, the price dropped, finding support at the 0.786 Fibonacci level of $60,947. Below this, a crucial support zone lies at $57,407, corresponding to the 1.1272 extension. Moreover, Accumulation/Distribution (Acc/Dist) data suggests mixed buying and selling pressures in the market.</p>   
<h2 class="wp-block-heading" id="h-market-liquidations-impact-traders">Market Liquidations Impact Traders</h2>   
<p>These whale movements have influenced traders. Coinglass data <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noreferrer noopener">shows</a> that over $42 million in long and short positions were liquidated as Bitcoin dropped into the $60K zone. Notably, $40 million of these liquidated positions were long bets, reflecting traders’ expectations for a continuous upward trend. However, the market turned against them, leading to sharp losses.</p>   
<p>Whale movements and technical indicators point to a <a href="https://cryptonewsland.com/bitcoin-leads-q4-2024-asset-performance-defies/" target="_blank" rel="noreferrer noopener sponsored nofollow">volatile Bitcoin market</a>. As new players emerge, it remains to be seen how this will impact prices and market sentiment soon.</p> 
<p>The post <a href="https://cryptonewsland.com/whale-moves-btc-deposits-spark-concerns-over-market-volatility/">Whale Moves: BTC Deposits Spark Concerns Over Market Volatility</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Whale Moves: BTC Deposits Spark Concerns Over Market Volatility

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