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07/26 12:12

40K BTC hits exchanges, but bulls hold the line


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The spot side tells a similar story.

Over 40,000 BTC flooded into exchanges this week, triggering a sharp wave of sell-side pressure as OTC desks and whales aggressively hit order books.

This rise in exchange volume usually indicates potential downside, with Bitcoin offered for sale in bulk.GwtLKFbW8AE-aqv-768x432.jpg

Adding to the tension, 3.9K BTC from 10+ year-old wallets moved on-chain; the second major instance of ancient coin activity this month after 80K BTC was reactivated on the 4th of July.

Despite this, Bitcoin has held above $110,000, so there is resilient net demand and medium-term buyer confidence.

While profit-taking is clearly underway, the market hasn’t broken… yet.

#ETH price breaks through $4,600, buy or sell?#Check In Daily, Win Prizes Daily — Join the Fun!#HTX 12th-Anniversary Carnival#Do you think MemeCore is promising?#HTX Crypto Gifts Carnival Is Live!
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