Markets· ★★★· bearish·

Analyst: short-term Bitcoin whales' unrealized profit drops 53% in a month

  • —Short-term BTC whales' unrealized profit fell from $9.8 billion to $4.6 billion
  • —Whales moved 10,605 BTC to exchanges on Oct. 20, the most since Oct. 8
  • —The 30-day average inflow of 3,815 BTC is 17% above the yearly average
  • —On Oct. 7–8 whales sent 29,517 BTC to exchanges and the price fell 4%
Why it matters: Adler called the combination of shrinking profits and rising exchange supply moderately negative for Bitcoin.
#BTC
Source: CoinPost
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