Bitcoin soars to new highs but on-chain data indicates that leverage traders might be at risk of liquidation.
Bitcoin whales or large holders could be on the verge of inducing a bearish pivot after BTC’s new ATH as flows indicate profit-taking.achieved a new historic high at $76,849 on the 7th of November. When BTC hit its previous all-time high at $69,000 in 2021, the U.S. Federal Reserve started raising interest rates shortly after.
Lower rates will continue to improve the liquidity conditions in the market, an outcome that was already evident after the previous rate cut. Bitcoin’s large holder inflows indicated a strong deceleration in the amount of BTC flowing into whale addresses. The figure dropped from 43,870 BTC on the 4th of November to 1,160 BTC by the 7th of November.
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