Bitcoin [BTC]: Everything latest you need to know before taking long position
went as low as $17k in 2022, shedding more than 70% from its all-time high. This prompted many crypto pundits and analysts to announce the beginning of the crypto winter, which would imply a prolonged bear market.thing, it is more likely the market will do just the opposite. That’s exactly the case here.BTC’s largest July transactions primarily happened during the bottom, which means that dominant buyers, whales took to opportunity to buy the dip at a discounted rate.
$0 to $1.178 billion due to that transaction. This is far rarer than a $1 million transaction, and one of the largest of the year. Did this help the network? Well, yes, it certainly played a part to mellow down the ‘shorting’ narrative. BTC blasted off right when traders aimed to short the network at the highest rate in nearly four months.
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