Crypto Express

07/16 01:09

BTC what whale position indicator shows

Bitcoin [BTC] made a new ATH of $122,838 this week, reigniting the buzz around the king coin. This came at a time when the U.S. streamlined its regulations to ease the adoption of Bitcoin and other cryptocurrencies.

As the price of BTC broke above the $120,000 mark, a shift in sentiment was noted. The Bitcoin Whale Position Sentiment showed that selling was becoming increasing dominant, sitting at 0.75 at press time.

The whale position indicator showed that the big players in the crypto markets were potentially taking profits. Notably, the Cumulative Volume Delta (CVD) showed dominant selling while the Open Interest declined.

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