Whales add to BTC after crypto crash, time to buy?
Bitcoin News: After a massive crypto market crash today with over 250 million in total liquidation, whales have surprisingly started buying Bitcoin. Crypto analysts believe that it is a great opportunity for investors to buy Bitcoin dip, with yearning to give a better return on investment.
Whale alert March 3 reported that a whale adds 999 BTC worth over 23 million from the crypto exchange Binance to an unknown wallet. Further analysis revealed that the wallet only contains 999 BTC, indicating that it is either an internal transfer or a new whale wallet.
Popular crypto market analyst Michael van de Poppe said that the crypto market correction is the right time to buy Bitcoin and other altcoins. The BTC price has fallen by 5% in the last 24 hours, showing an excellent opportunity to buy the dip.
Despite the negativity surrounding Mt. Gox Bitcoin unlocks, Ethereum Shanghai ETH unlock and Silvergate bank, longing from $21.7K the best level to buy Bitcoin.
Popular analyst Rekt Capital tracks Bitcoin price will remain in the range unless BTC could break the $23,400 resistance. BTC monthly close below $23,400 gave traders a chance to sell on the expiration day. However, he also warns that BTC could drop lower in the range as the price continues to consolidate.
Bitcoin rate to fall or recover?
Despite the news drop in Bitcoin price, sentiment in the crypto market has not fallen much. The Crypto Markets Fear and Greed Index shows a value of 50, with a drop of only 1 value. Thus, the market sentiment is “neutral”.
The BTC price fell over 5% in the last 24 hours, with the price currently trading at $22,416. The 24-hour low and high are $22,241 and $23,540 respectively. Furthermore, trading volume has increased by 16% in the last 24 hours.
In addition, the US Dollar Index (DXY) fell 33% to 104.69 in the last 24 hours, favoring a rise in crypto prices.
Also Read: Citadel To Rescue Silvergate Bank From Fund Crisis; Here’s why?
