The total liquidation in the futures market on the 25th was 2.1459 trillion won... "It led to a market crash"
Cryptoquant "'BTC Whales' transferred 26,430 BTC from long-term storage wallets"
"BTC holders with less than 155 days of holding are 'short-term investors', sold 27,500 BTC"
Experts point to $81,000 to $86,000 as the next resistance level
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On-chain analysis platform Cryptoquant pointed out in a post on its official X account that 'BTC whales' showed movements to accumulate BTC. Cryptoquant said "BTC whales transferred about 26,430 BTC to 'long-term storage wallets'."
While whales accumulated BTC, short-term holders sold BTC. It was revealed that 'BTC short-term holders' with a holding period of less than 155 days sold about 27,500 BTC on the 25th, accelerating the BTC decline.
The main cause of the cryptocurrency crash on the 25th was the large-scale liquidation in the futures market. On-chain analysis platform CoinGlass said the total liquidation in the cryptocurrency market reached $1.5 billion (about 2.1459 trillion won) in a single day on the 25th.
Experts pointed out that there is a large buy wall of BTC whales at $89,200. In fact, BTC, which had fallen to $86,000, rose about 2% and recorded $88,420 as of 9 am on the 26th based on CoinMarketCap.
The next resistance level pointed out by experts is $81,000 to $86,000.
Cryptocurrency media CoinTelegraph wrote, "In November last year, there was a large liquidity between $81,700 and $85,100," and "There is a large spot buy wall between $84,000 and $86,000."
Reporter Kwon Seung-won ksw@blockstreet.co.kr
