Whales on the world’s largest bitcoin margin trading platform BitMEX are selling large amounts of BTC. After the rejection at $9,200, investors are seemingly moving towards hedging their holdings to brace for a bigger pullback.
According to a platform that reports unusually sizable sell orders on BitMEX, many whales sold millions of dollars worth bitcoin in the past 24 hours.
One particular whale, which refers to an investor with a large BTC holding or who trades with significant size, sold $10 million worth of bitcoin at $8,665.
What does it mean for bitcoin?
Whales selling bitcoin on BitMEX, as indicated by WhaleTrades, basically means spot sell orders at 1x leverage. Read More...