Bitcoin whale selling eased as BTC exchange inflows dropped sharply, making the trend line near $59,000 the critical support level to watch.
Bitcoin (BTC) climbed to an intraday high of $68,300 during the early Asian trading hours on Tuesday amid a decline in whale selling. Selling in the derivatives markets also eased, suggesting that the “bearish position is becoming less aggressive,” according to a new analysis.
Key takeaways:
Large BTC deposits to Binance have dropped significantly, signaling reduced selling pressure.
