Ki Young Ju 주기영 (@ki young ju) February 28, 2021
The apex cryptocurrency traded 0.32% lower at $46,369.59 at press time. BTC hit a 24-hour high of $46,576.97, according to CoinMarketCap data.
Why It Matters: Earlier, Ki urged his followers on social media not to blame mining pool owners as the outflows came from affiliated miners, who have participated in the mining pool at least once.
The analyst’s Twitter posts spurred a robust debate with some people observing that miners have the power in the current power equation, while others alluding to collusion between whales and miners.
Ok so you re saying that those 19 whales that have done direct business with F2pool are systematically dumping at the SAME time in a coordinated fashion.. I mean why wouldn t they, they all dump, use 100x leverage to short and recollect all the bitcoin they dumped with premium..
Crypto Carnage Continues As Whale Wars Rage
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Bid Side In Bitcoin Disappears Amidst Jittering “Macro Environment”
Reading Time: 3min read
Bitcoin is trading more than $10,000 per coin less than the current high, after according to one crypto analyst, the “bid” side of market has disappeared, exposing the cryptocurrency’s current weakness.
The lack of buying currently could be due to what another analyst calls a jittering macro environment, referencing the stock and bond markets that have seen volatility as of late. Here’s what else is going on in both traditional and crypto markets that could have investors waiting to pull the trigger currently.
Bitcoin Bid Side Weakens, But There’s Still No Sellers To Be Found
Coinbase Bitcoin Outflows Are The Strongest Bullish Signal “Ever”
Bitcoin price is trading above $50,000 once again, following a short-lived correction below the key level. Bullish news that Coinbase had filed to go public helped send the price higher this morning, but the real strength in the cryptocurrency comes from outflows leading the exchange.
Here’s why one top quant analyst says that the 13K BTC outflows are the “strongest bullish signal” they’ve “ever seen.”
13,000 Bitcoin Leave Coinbase, Bought Below $50,000 Price Level During Dip
A massive whale recently sold down the current peak of the ongoing Bitcoin rally, but according to Coinbase outflows institutions were ready in wait, buying the dip with whatever capital they could.
Tether Settlement Seen As Positive Step for Bitcoin Industry
Cryptocurrency pundits explain how the Tether decision provides clarity to the Bitcoin industry.
The company has been banned from operating in New York.
However, many in crypto believe this is a positive step for the company.
Bitfinex and Tether must stop trading activity in New York and pay an $18.5 million fine as part of a settlement on Tuesday with the New York Attorney General and crypto industry pundits say that it s a positive development that may lead to further transparency around crypto’s biggest stablecoin.
The NY Attorney General s investigation concluded that Tether made false statements about the backing of the tether stablecoin, and about the movement of hundreds of millions of dollars between the two companies to cover up the truth about massive losses by Bitfinex.
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