Bitcoin Flashing Sell Signals
A well-known crypto analyst is alerting you about a potential sell-off event for Bitcoin (BTC). According to crypto strategist Ali Martinez, the TD Sequential indicator for Bitcoin is indicating a possible corrective move. This indicator tracks price points to signal potential trend reversals. Martinez cautions that the last time the TD Sequential showed buy signals in both weekly and three-day charts was in early September, which sparked the recent bull run.
Miners Selling Bitcoin
Martinez also notes that Bitcoin miners have been taking advantage of the recent rally to sell off thousands of BTC. Since Bitcoin surpassed $34,000 in late October, over 5,000 BTC worth approximately $175 million have been sold off by miners.
Ethereum’s Rally and Whales
As for Ethereum (ETH), Martinez points out that its recent rally began without significant investments from large investors. Even before whales started buying, Ethereum managed to reclaim the $2,000 threshold.
Hot Take: Bitcoin Showing Bearish Signal As Miners Unload $175,000,000 in BTC
A warning has been issued by a well-known crypto analyst who says that Bitcoin might be headed for a sell-off. The TD Sequential indicator has shown signals for a potential corrective move. Additionally, BTC miners have been capitalizing on the recent rally to offload thousands of BTC, amounting to approximately $175 million. Meanwhile, Ethereumβs rally has begun without significant investments from whales.
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