en.bitcoinsistemi.com
Although Bitcoin started July well, it fell to $ 58,500 with subsequent declines.
While investors who are already at a loss are wondering about the reasons for the decline and whether it will continue, analysts evaluate that the uncertainty in the US economy, Mt.Gox payments and whales' $BTC sales are behind the decline.
At this point, Bit.com Marketing Director Toya Zhang, in his statement to The Block, listed the events necessary for Bitcoin to rise:
“While many analysts and experts are predicting a significant increase in July, we believe it is difficult to see a significant increase without the lack of market liquidity and the huge benefit provided by new narratives and rate cuts that will start a new rally in the crypto sector.
We are also seeing many over-the-counter exchanges receiving large sell orders. This shows that family offices and high net worth individuals profited from the last bull cycle.”
Apart from this, $BTC whales have also been making large sales recently. According to Lookonchain's post, a giant whale deposited 1,700 $BTC worth $99.92 million to Binance within an hour.
While this whale was selling $BTC at a loss, he deposited 3,500 $BTC worth $206 million to Binance in just 6 hours.
Note that this whale deposited 1,700 $BTC($99.92M) to #Binance again 20 minutes ago.
He deposited 3,500 $BTC($206M) to #Binance in just 5 hours!https://t.co/gq0KtAOQEZ pic.twitter.com/tTKWALqNak
— Lookonchain (@lookonchain) July 4, 2024
Bitcoin Bulls' Losses Increase!
While this sharp decline in Bitcoin left the bulls in reverse, according to Coinglass data, $ 275 million was liquidated in the last 24 hours. Of this, $245 million consisted of long positions and $30 million consisted of short positions.
While $73.5 million was liquidated in Bitcoin, it was followed by Ethereum ($ETH) and Solana (SOL) with $66.5 million.
While 105,163 investors liquidated in the last 24 hours, the largest single liquidation order occurred on the $ETH-USD trading pair on OKX.
Bitcoin, which has dropped 4.1% in the last 24 hours, continues to trade at $ 58,290.
*This is not investment advice.