<2> Bitcoin Sell Pressure Is Easing, But Whales Keep Dumping on Exchanges: CryptoQuant
<3> Overview
The cryptocurrency market has been experiencing a period of volatility, with prices fluctuating wildly over the past few months. However, according to a recent report by CryptoQuant, a leading provider of on-chain data and analytics, the sell pressure on Bitcoin is starting to ease. This is a positive sign for the market, but it’s not all good news, as large investors, also known as “whales,” are still dumping their Bitcoin holdings on exchanges.
<3> The Easing of Sell Pressure
One of the key indicators of market sentiment is the Net Unrealized Profit/Loss (NUPL) metric, which measures the difference between the total value of Bitcoin held by investors and the total value of Bitcoin that can be sold at the current market price. According to CryptoQuant, the NUPL for Bitcoin has been trending downward over the past few weeks, indicating that the sell pressure is easing.
<3> Whales Continue to Dump Bitcoin