While the release of US inflation data caused a decrease in Bitcoin (BTC), it managed to appease the whales.
BTC suffered a strong decline as the US CPI data released yesterday did not meet expectations. After the statements, the leading cryptocurrency fell to $ 18.3 thousand, subject to strong selling pressure. Taking advantage of this recession, the whales gathered the bottom regions and caused an instant rise.
Bitcoin Data, Will Bitcoin Rise?
According to Bitmex and Binance data, whales with strong wallets took long positions at the same time. Investors, who took advantage of the decline in the data coming from the USA, made an upward move by catching the bottom region. BTC has risen from $ 18.3 thousand to $ 19.8 thousand.
Bitcoin whales began to expect bulls. Acting in parallel with the global economy, BTC whales managed to catch the increase in oil stocks from the USA. The positive news from the market caused a rise on the BTC side.
However, this recovery and the whales’ appetite did not materialize in the spotlight. BTC whales moved from futures as they were after short-term gains. The fact that the interest rate hike on the Fed side will continue does not lead investors to spot purchases yet.
The news-driven short fluctuations of whales reveal volatility in BTC.
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