BTC plunges to begin week, pulling back to $64,700
CoinDesk • • business
Key Points:
- Bitcoin has dropped sharply by 5% to around $64,700, following a decline from the $67,000 range over the weekend, amid ongoing market pressure despite signs that panic selling may be easing.
- On-chain data from Glassnode indicates recent buyers have been realizing significant losses, with short-term holder losses improving but still negative, suggesting the market is in a bottom-building phase rather than a strong uptrend.
- CryptoQuant data reveals a decrease in bitcoin sent to exchanges from 60,000 BTC to about 23,000 BTC daily, but a rise in large-holder (whale) activity, with whales accounting for nearly two-thirds of exchange inflows, indicating bigger players are driving current selling.
- Altcoins
