Bitcoin stalls at $81,500 as whales prepare to sell but haven't yet
- —BTC holds near $81,500, having earlier dipped to $80,300 during the day
- —Price rose from $65,000 to $77,000 earlier this week, then failed twice to break $82,000
- —Whales have been adding to exchange BTC reserves since last Tuesday, signaling preparation to sell
- —The rise in exchange BTC reserves has not yet been accompanied by a price drop
Why it matters: Accumulation of BTC on exchanges is a leading indicator of seller pressure: a break above $82,000 would extend the rally, while failure risks a correction.
Source: The Cryptonomist (IT)