Bitcoin, as well as the other crypto loops, continue to lose value after it became clear that a big Bitcoin Kit transferred 94 000BTC to the Huobi Exchange. Let's explain what Bitcoin Kit means. Kit is called a large investor holding a lot of BTC, which, if placed on the stock exchange, will certainly affect the price. It is known that 0.000074% of the portfolios contain about 40% of all coins dug.
A recent BitInfoCharts report showed that 1,600 investors known as Battle Kits have $ 37.5 billion in Bitcoin, which account for about a third of the BTC in circulation.
Technically, the BTC has passed a key level of support, activating a triangle formation. Looking at the weekly chart, it turns out that the road to the $ 5000 area looks clean, and given the foundation, Bitcoin's likelihood to get down there remains high.
Source: Bloomberg Pro Terminal
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