Bitcoin
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$82,625.00 1.06595
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BNB
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$605.95 0.98982
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Bitcoin
Bitcoin (BTC)
$82,625.00 1.06595
Bitcoin price
Ethereum
Ethereum (ETH)
$1,827.44 1.46038
Ethereum price
BNB
BNB (BNB)
$605.95 0.98982
BNB price
Solana
Solana (SOL)
$124.41 -0.36516
Solana price
XRP
XRP (XRP)
$2.08 -1.37146
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 0.78487
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000073 4.49764
Pepe price
Bonk
Bonk (BONK)
$0.0000113 0.87019
Bonk price
dogwifhat
dogwifhat (WIF)
$0.42535 -2.23259
dogwifhat price
Popcat
Popcat (POPCAT)
$0.190929 0.98555
Popcat price
Bitcoin
Bitcoin (BTC)
$82,625.00 1.06595
Bitcoin price
Ethereum
Ethereum (ETH)
$1,827.44 1.46038
Ethereum price
BNB
BNB (BNB)
$605.95 0.98982
BNB price
Solana
Solana (SOL)
$124.41 -0.36516
Solana price
XRP
XRP (XRP)
$2.08 -1.37146
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 0.78487
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000073 4.49764
Pepe price
Bonk
Bonk (BONK)
$0.0000113 0.87019
Bonk price
dogwifhat
dogwifhat (WIF)
$0.42535 -2.23259
dogwifhat price
Popcat
Popcat (POPCAT)
$0.190929 0.98555
Popcat price
Bitcoin
Bitcoin (BTC)
$82,625.00 1.06595
Bitcoin price
Ethereum
Ethereum (ETH)
$1,827.44 1.46038
Ethereum price
BNB
BNB (BNB)
$605.95 0.98982
BNB price
Solana
Solana (SOL)
$124.41 -0.36516
Solana price
XRP
XRP (XRP)
$2.08 -1.37146
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 0.78487
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000073 4.49764
Pepe price
Bonk
Bonk (BONK)
$0.0000113 0.87019
Bonk price
dogwifhat
dogwifhat (WIF)
$0.42535 -2.23259
dogwifhat price
Popcat
Popcat (POPCAT)
$0.190929 0.98555
Popcat price

Whales didn’t sell Bitcoin at $62k, on-chain data shows

Anthony Patrick
Edited by
Markets
Whales didn’t sell Bitcoin at $62k, on-chain data shows

Bitcoin faces yet another correction after surpassing the $62,000 mark on Oct. 2. However, data shows that whales haven’t taken part in the latest selloff.

Bitcoin (BTC) consolidated around the $60,000 zone between Oct. 1 and 4 as the geopolitical tension between Iran and Israel heated up.

Right after the U.S. jobs report, the flagship cryptocurrency reached a local high of $62,370 on Oct. 5 as the broader crypto market witnessed bullish momentum.

Whales didn’t sell Bitcoin at $62k, on-chain data shows - 1
BTC price – Oct. 6 | Source: crypto.news

Bitcoin declined by 0.2% in the past 24 hours and is trading at $61,950 at the time of writing. Its daily trading volume plunged by 53% and is currently hovering at $12.2 billion.

According to data provided by IntoTheBlock, large Bitcoin holders recorded a net inflow of 205 BTC on Oct. 5 as the outflows remained neutral. The on-chain indicator shows that whales didn’t sell Bitcoin as its price surpassed the $62,000 mark.

Whales didn’t sell Bitcoin at $62k, on-chain data shows - 2
BTC whale net flows – Oct. 6 | Source: IntoTheBlock

Meanwhile, Bitcoin’s whale transaction volume decreased by 48% on Oct. 5 — falling from $48 billion to $25 billion worth of BTC. Lower trading and transaction volumes usually hint at price consolidations and lower volatility.

Data from ITB shows that Bitcoin registered a net outflow of $153 million from centralized exchanges over the past week. Increased exchange outflows suggest accumulation as the bullish expectations for October rise.

It’s important to note that macroeconomic events and geopolitical tension can suddenly change the direction of financial markets, including crypto.