{"id":23419,"date":"2024-06-24T13:00:12","date_gmt":"2024-06-24T10:00:12","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23419"},"modified":"2024-06-24T10:11:50","modified_gmt":"2024-06-24T07:11:50","slug":"bitcoin-whales-reduce-transactions-as-price-slips-below-63000","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-whales-reduce-transactions-as-price-slips-below-63000\/","title":{"rendered":"Bitcoin Whales Reduce Transactions as Price Slips Below $63,000"},"content":{"rendered":"<p><strong>Bitcoin<\/strong> whales have significantly slowed their transaction activity in the past two days, coinciding with Bitcoin\u2019s price drop below $63,000. Data from Santiment shows that the number of Bitcoin whale transactions \u2014 those worth $100,000 or more \u2014 fell by 42% from 17,091 to 9,923 over the past two days.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-reduce-transactions-as-price-slips-below-63000\/#Whale_Activity_and_Market_Sentiment\" title=\"Whale Activity and Market Sentiment\">Whale Activity and Market Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-reduce-transactions-as-price-slips-below-63000\/#Market_Sentiment_Indicators\" title=\"Market Sentiment Indicators\">Market Sentiment Indicators<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-reduce-transactions-as-price-slips-below-63000\/#Contrasting_Views_on_Bitcoins_Future\" title=\"Contrasting Views on Bitcoin\u2019s Future\">Contrasting Views on Bitcoin\u2019s Future<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Whale_Activity_and_Market_Sentiment\"><\/span>Whale Activity and Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This change in whale behavior comes as <strong>Bitcoin\u2019s<\/strong> price fell from $64,685 to $63,422, further declining to $62,312 at the time of publication, according to CoinMarketCap data. CryptoQuant CEO Ki Young Ju noted that whale traders on derivatives exchanges have adopted a risk-off approach<strong>, indicating a bearish market sentiment.<\/strong> <em>\u201cWhale traders on derivatives exchanges are in risk-off mode\u201d<\/em> Ki stated in a June 23 X post.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/analysts-predict-potential-bitcoin-decline-to-52000-amid-bearish-market-signals\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: Analysts Predict Potential Bitcoin Decline to $52,000 Amid Bearish Market Signals<br \/>\n<\/span><\/em><\/a><br \/>\nKi attributed this sentiment shift to the Interexchange-Flow-Pulse (IFP) turning red, signaling increased Bitcoin withdrawals from derivatives exchanges. These platforms are used for entering financial contracts based on <strong>Bitcoin\u2019s<\/strong> future price, and the red IFP suggests a bearish outlook.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Sentiment_Indicators\"><\/span>Market Sentiment Indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Crypto Fear and Greed Index, which measures crypto market sentiment, has dropped to a \u201cNeutral\u201d score of 51, its lowest in 51 days. This drop follows Bitcoin falling below the critical $60,000 level to $59,122. Additionally, spot Bitcoin exchange-traded funds (ETFs) have seen outflows over the past six trading days, with the largest outflow of $226.2 million occurring on June 13, according to Farside data.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Contrasting_Views_on_Bitcoins_Future\"><\/span>Contrasting Views on Bitcoin\u2019s Future<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the bearish sentiment, some analysts remain optimistic about Bitcoin\u2019s future. Glassnode lead analyst James Check, also known as \u201cCheckmatey,\u201d pointed to the Bitcoin Sell-side Risk Ratio as a positive indicator. \u201cThe Bitcoin Sell-side Risk Ratio has reached levels signaling it is time for the market to move,\u201d Check wrote in a June 23 X post. He explained that all potential profits and losses have been realized, and Bitcoin needs to find a new price range to incite fear, greed, panic, or euphoria.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin whales have significantly slowed their transaction activity in the past two days, coinciding with Bitcoin\u2019s price drop below $63,000. Data from Santiment shows that the number of Bitcoin whale transactions \u2014 those worth $100,000 or more \u2014 fell by 42% from 17,091 to 9,923 over the past two days. Whale Activity and Market Sentiment<\/p>\n","protected":false},"author":6,"featured_media":22294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,657,1,2],"tags":[389,61],"class_list":["post-23419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-crypto-news","category-en","category-genel","category-news","tag-bearish-sentiment","tag-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Whales Reduce Transactions as Price Slips Below $63,000 - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-reduce-transactions-as-price-slips-below-63000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Whales Reduce Transactions as Price Slips Below $63,000 - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bitcoin whales have significantly slowed their transaction activity in the past two days, coinciding with Bitcoin\u2019s price drop below $63,000. 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