Bitcoin is bearish now?
Several large amounts of BTC have been withdrawn from the crypto exchange Coinbase in the last 10 hours. Over $1.17 billion in cryptocurrency has been transferred to anonymous wallets.
Three large BTC transfers from Coinbase were discovered by Whale Alert and sent to anonymous crypto addresses. Each time, the amount was between 9,850 and 9,900 BTC, totaling over 30,000 BTC.
It is reported that around 20,200 BTC has outflowed from Coinbase. Many people believe that these outflows are consequences of Coinbase’s sanctions.
Bitcoin has lost 8% of its value during the last three days. Since March 9, it has lost nearly 8% of its value, falling from $42,540 to $38,719, where BTC is now trading on the Binance exchange.
BTC’s price started to skyrocket to $42,000 when the executive order has been leaked. Bitcoin’s market cap also reached $800 million after the President officially signed the crypto order. But now, the leading cryptocurrency is suffering big price swings every day.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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