Bitcoin has stabilized at $94,000 following a significant drop in whale and short-term holder exchange deposits, according to Cryptoquant. The cryptocurrency rebounded from a low of $80,000 on November 21, as exchange inflows decreased from 88,000 to 21,000. Whale deposits, which previously constituted 47% of all deposits in mid-November, have now fallen to 21%, indicating reduced selling pressure.
Cryptoquant reports that whales have incurred $3.2 billion in losses since mid-November, with short-term holders showing signs of capitulation. The firm identifies $99,000, $102,000, and $112,000 as critical resistance levels to monitor ahead of the upcoming Federal Reserve meeting.
Bitcoin Stabilizes as Whale Exchange Deposits Decline
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