Bitcoin Downtrend Driven by Early Whale Selling, Says Ki Young Ju

Bitcoin's sharp correction from $110,000 to around $80,000 is linked to heavy selling by early whales with cost bases near $16,000. CryptoQuant CEO Ki Young Ju notes that on-chain metrics indicate Bitcoin is now in the “shoulder” phase of its cycle, suggesting limited short-term upside potential.

Source: beincrypto.com

Related symbols: BTCUSD