Crypto analyst Mignolet said Binance spot whale flows resemble the 2022 bear market, with buying steadily weakening since early October as BTC broke below a roughly one-year trading range. Mignolet said the market has not accumulated enough for a full uptrend, and warned that continued whale selling could precede unexpected negative developments.
Mignolet says weakening Bitcoin whale buying echoes pre-Terra 2022 pattern
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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 short-term holders moving large volumes and realising losses. Murphy said LTH realised losses hit $139m on 5 Nov. MAC.D now says short-term holder exchange inflows fell 69.7% to about 9,900 BTC on 9 Nov, which could support…
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Mignolet says weakening Bitcoin whale buying echoes pre-Terra 2022 pattern
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