CryptoQuant’s CEO, Ki Young Ju, recently issued a warning about the actions of major Bitcoin whales in the market. According to Ju, significant HTX whales have been seen taking large long positions at the $69,000 level. This is particularly noteworthy as HTX, owned by cryptocurrency mogul Justin Sun, has not been receiving much attention lately.
Ju also pointed out that other giant whales have been making similar moves on Bybit at the same price level. As Bitcoin’s price hovers around $69,717, the market remains relatively stable. However, recent events such as strong employment data and a decline in memecoins following an influencer’s live broadcast have led to some volatility in BTC’s value.
The upcoming week is expected to be crucial for the cryptocurrency market, with key announcements including the FED interest rate decision, CPI data, and PPI data. Investors are advised to stay informed and exercise caution. For those looking to invest in cryptocurrencies, Binance exchange offers a 20% commission discount for new registrants. Stay updated with the latest news and analytics by following our Telegram and Twitter accounts.
