Bitcoin Whales Saw Billions in Losses Amidst June Market Crash

IconCryptoNewsTerminal Staff09 Jul, 2024

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Bitcoin Whales Saw Billions in Losses Amidst June Market Crash

CryptoQuant lead analyst Julio Moreno reported via X that "the new bitcoin whales that took profits during the last quarter are marking losses of nearly $1 billion in the last two weeks. Long-term bitcoin whales have already taken profits since the beginning of June. The selling pressure from these whales has hugely contributed to the recent market dump, and the extent of their losses demonstrates that even large-scale investors are not immune to the volatility of the crypto market. The market is currently in a delicate state, with whales likely continuing to take profits and retail investors unsure where to position themselves.

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