More than 11,000 BTC moved by whales in hours as Bitcoin snaps to lows near $40K Crypto
Bitcoin declined to lows of $40,800 after a steady decline owing to rejection from highs of $45,332 on March 2. The cryptocurrency market likewise tumbled under selling pressure after failing to sustain its bullish momentum. The total market capitalization has shrunk by $65 billion over the last day, although it has returned slightly above $1.8 trillion at press time.
Whale transactions signal a rise in demand from large-pocket investors. A positive narrative among investors is fueled by an increase in demand. According to the provided data, more than 13,400 transactions with a value greater than $1 million were made by whales as Bitcoin rose earlier in the week.
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