Bitcoin Review 08/08/2024

Financial and commodity markets analytics

Against the background of falling markets, including a sharp decline in Bitcoin quotations, transactions of large holders of this asset (whales) reached a record level in four months. Bitcoin whales have accumulated assets worth about $23 billion over the past 30 days. It is noteworthy that activity peaked during the market collapse.
In addition, data has appeared in the information field that large holders are withdrawing their Bitcoins from exchanges at the maximum speed in nine years. We are talking about holders who have at least a thousand coins on their balance sheet.

Meanwhile, the quotes are confidently holding near the lower limit of the range, which was overcome in the wake of panic sales. The probability of resuming purchases, which, among other things, can be strengthened by sellers abandoning their positions, is growing. In case of growth, the next target will be the $63,000 level zone.