Crypto analyst Murphy said spot sell-side volume on 5 November hit its highest level since the current rally began in August, exceeding the selling seen after the Binance security incident on 30 October. He said it may take weeks, or one to two months, for the market to absorb the fear.
Murphy says Bitcoin selling pressure on 5 November was the heaviest since August
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The story so far: Bitcoin holder selling pressure analysis
On-chain analysts have tracked Bitcoin holder exchange inflows during the recent decline, with Darkfost noting short-term holders moved 19,800 BTC in 24 hours and realised losses topped $2bn. Murphy now says spot sell-side volume on 5 November was the heaviest since August, exceeding post-Binance-incident selling…
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Murphy says Bitcoin selling pressure on 5 November was the heaviest since August
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