CryptoQuant CEO Says Bitcoin Whale Behavior Shows Over $ 50,000 in Massive BTC

CryptoQuant Chief Ki Young Ju explains how Bitcoin whales play in the market while BTC consolidates between $ 50,000 and $ 60,000. In a new tweet, the head of the on-chain analytics platform said that he likely witnessed large Bitcoin transfers that took place without a prescription (OTC). Whales have collected BTC. Huge Bitcoins were transferred, but these transactions are not from exchanges. OTC possible offers. The NVT gold cross remains very low, which means the trading volume is large relative to market value. Source: According to Ki Young Ju / Twitter CryptoQuant, the NVT (Network-to-Value Transactions) golden cross is a signal indicating the occurrence of local highs or lows. A value below -1.6 indicates that Bitcoin could be ready for a major uptrend. At the end of April, the NVT gold cross metric was -2.95. "The NVT Golden Cross indicator is at a one-year low. BTC has upside potential from the NVT valuation model perspective." Source: CryptoQuant / Twitter Additionally, Ki stated that whales are moving BTC to derivatives exchanges and can bet on Bitcoin's rise in the near term. Using BTC as collateral. This happened during the dive. Source: Another signal that Ki Young Ju / Twitter Ki says indicates a large whale backlog is the increase in Coi nbase premium, which institutional investors say is a sign that they are buying Bitcoin. "Institutions like Tesla are using Coinbase Prime brokerage to buy or sell BTC. These will be wholesale orders that can affect the BTC price. Coinbase's premium has been negative / neutral for the past 7 weeks, but has recently become positive, and a week ago, the all-time high Long-term optimistic. The bullish signals in the chain are coming as Bitcoin recovered from almost fifty-day lows at $ 47,159.49. At the time of writing this article, Bitcoin is trading at $ 57,499, over 14% at p.

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