Analysis: Current Bitcoin Selling Pressure Mainly Originates from a Certain Exchange, with Another 3,169 BTC Transferred In an Hour Ago
According to Jinse Finance, on-chain data analyst Murphy stated that the current selling pressure in the Bitcoin market mainly comes from a certain exchange. Around 10:00 AM (UTC+8) today, 4,950 BTC were transferred into this exchange, after which BTC dropped to around $115,000. However, an hour ago, another 3,169 BTC were transferred into the same exchange. Analyst Murphy noted that on-chain data is only updated up to this point. If there are no further large transfers, the price is expected to stabilize around $115,000; however, if BTC inflows to the exchange continue, there may still be room for further decline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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