Bears scrambling for deeper bottoms at $105k BTC It reduced its price to $105,306. Closings below 107 thousand dollars do not paint a good picture for the coming hours. The master trader, whom everyone watched closely, was hunted today and his money was almost zero. What’s going on with cryptocurrencies?
Cryptocurrencies Are Falling
Fed member Goolsbee shared his concern about inflation in his speech today, and simultaneously we saw that the decline in cryptocurrencies accelerated. Whales have been selling steadily for a while and BTC was resisting. Since the expected support did not come from the ETF channel, BTC price It starts to normalize below $107 thousand.
The fear triggered by whale sales caused individuals to reduce their risks in altcoins. Another problem is that historically markets peak in November, presenting the last opportunity to sell. Long-term investors, who thought that the decline would begin anyway, turned their profits into cash and started watching what was happening on the sidelines.
Regarding the ongoing decline, Turkish on-chain analyst anlcnc1 said;
“Bitcoin
$107,431.55It cleared the liquidation zone in an average of 2 weeks, it was very close before but it didn’t come and take it, now it took it. Of course, it progresses up to the 104K level, but the intensity was in the 105K region in the first stage.
Coinbase premium still has not improved, it is not as suppressed as before, but it is not positive, it continues to be negative. In the current situation, it would be good if the price determines a horizontal zone for itself and we see a recovery in premium, but there is no such situation for now. In the past, there would have been a reaction to 107K levels again after taking the liquidation in this region, but I don’t know if it will come now. “Even if it comes, it is not known how permanent it will be. For this to be permanent, the Coinbase premium clearly needs to recover. I have been emphasizing this for a long time, we need a positive Coinbase premium.”
Coinbase premium What is mentioned as shows the appetite of US-based investors.
Master Trader Hunted
The 100% winning streak ended and trader 0xc2a3 gave up. All BTC He closed his long positions. ETH and SOL Coin The master trader, who had to close his long positions with a loss, witnessed a loss of -17.6 million dollars on his positions, from which he earned a profit of 33 million dollars at the peak.
Another master trader, Machi Big Brother, was completely liquidated. He didn’t expect the latest drop and now has only $16,700 left in his account. In addition to the loss of 15 million dollars, this figure means almost zero money.
