Business
Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800 – Cointelegraph
Whales are bidding $8,800 to purchase Bitcoin on major exchanges like Bitfinex following a sharp drop to sub-$10,000
The price of Bitcoin (BTC) abruptly declined by 10% in a single day on Sep. 4. Following the dip, the sentiment around the cryptocurrency market has become noticeably cautious with the Cryptocurrency Fear & Greed Index flashing fear for the first time since July.
A massive Bitcoin buy order at $8,800 on Bitfinex. Source: Cole Garner
However, market data shows that whales are preparing to purchase Bitcoin at $8,800 support level. It indicates that a March 13-like drop is unlikely to happen,…
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