Joo Ki-Young: “BTC Whales Accumulating Long Positions”
CryptoNewsTerminal Staff04 Jul, 2024
Joo Ki-Young: “BTC Whales Accumulating Long Positions”
BTC whales continue to accumulate long positions, according to CryptoQuant CEO Ki Young Joo. This observation is based on data from X, which shows that whales have been increasing their long positions since mid-March. This could be a sign that whales believe that the current cryptocurrency market downturn is nearing the bottom and that a recovery is on the horizon. Whales are large holders of cryptocurrencies, and their actions can have a significant impact on the market. They often use their size and influence to make large trades that can move the price of a cryptocurrency in their desired direction.
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