Will $2.5 billion be enough to stop Bitcoin from falling to $60,000

Bitcoin (BTC) is rolling back from historical highs. We are looking into whether investors are able to prevent a large-scale correction

Will $2.5 billion be enough to stop Bitcoin from falling to $60,000

At the time of writing, bitcoin continues to correct, as a result of which the cryptocurrency has already gone under the 50-day exponential moving average (EMA).

However, BTC is still above the critical support level at $63,724. Its breakdown could lead to a significant drawdown. The reason for this stability is the conviction of BTC holders, who consistently withdraw coins from exchanges, despite the market situation.

In the last week alone, almost 36,640 BTC worth more than $2.5 billion have been withdrawn from the wallets of the exchanges. The whales did not accumulate funds at that time. This means that retail investors accumulate them.

The derivatives market has the same attitude. The lack of liquidations of long positions helps to remain optimistic, assuming that traders are still betting on price increases.

Source: https://ru.beincrypto.com/dejstviya-investorov-btc-padeniye/

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