{"id":120724,"date":"2020-11-26T09:00:40","date_gmt":"2020-11-26T06:00:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges\/"},"modified":"2020-11-26T09:00:40","modified_gmt":"2020-11-26T06:00:40","slug":"bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges\/","title":{"rendered":"# Bitcoin price suddenly drops 11% as whales move BTC to exchanges"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36c433251ce\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36c433251ce\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges\/#BTC_price_hits_17250_lows\" >BTC price hits $17,250 lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges\/#Exchange_selling_pressure_mounts\" >Exchange selling pressure mounts<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price suddenly drops 11% as whales move BTC to exchanges <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) dropped $1,000 in minutes on Nov. 26 as a long-awaited pullback hit the market at close to $19,500.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_hits_17250_lows\"><\/span>BTC price hits $17,250 lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a> showed BTC\/USD experiencing major volatility overnight on Wednesday.<\/p>\n<p>After nearly hitting $19,500 during the day\u2019s trading, after-hours saw a period of bearish indecision that ended in a sharp sell-off. Bitcoin reversed at $17,250, c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing daily losses of around 5%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/54ae53ac-d239-4712-b305-01d48bef199f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Many analysts had already warned that the recent gains were due a period of consolidation, among them CNBC host Brian Kelly and trader <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/ToneVays\/status\/1331359997578633218\">Tone Vays<\/a>, who on Thursday forecast a dip to $14,000. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_selling_pressure_mounts\"><\/span>Exchange selling pressure mounts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the event, the downturn was less severe, but came in tandem with large-volume investors depositing BTC to exchanges \u2014 presumably with the aim of selling near Bitcoin\u2019s $20,000 all-time highs.<\/p>\n<p>\u201cAll Exchanges Inflow Mean increased a few hours ago. It indicates that whales, relatively speaking, deposited $BTC to exchanges,\u201d <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1331815316838486016\">Ki Young Ju<\/a>, creator of on-chain analytics resource CryptoQuant, summarized to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers. <\/p>\n<blockquote><p>\u201cBut long-term on-chain indicators say the buying pressure prevails. I still think we can break 20k in a few days.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/e0155f4f-df99-4fc4-8073-5ee1444dc2e9.jpeg\"><figcaption style=\"text-align: center;\"><em>Exchange inflows 1-month chart. Source: CryptoQuant\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>Bitcoin\u2019s technical indicators support the bullish theory going forward, however, with the mining\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/btc.com\/stats\/diff\">difficulty<\/a> set for a 7.3% uptick in three days\u2019 time and hash rate continuing to grow. <\/p>\n<p>At press time, BTC\/USD circled $17,900 after a modest recovery from local lows.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-suddenly-drops-11-as-whales-move-btc-to-exchanges\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price suddenly drops 11% as whales move BTC to exchanges &#8221; Bitcoin (BTC) dropped $1,000 in minutes on Nov. 26 as a long-awaited pullback hit the market at close to $19,500. BTC price hits $17,250 lows Data from Cointelegraph Markets and TradingView showed BTC\/USD experiencing major volatility overnight on Wednesday. After nearly hitting&#8230;<\/p>\n","protected":false},"author":1,"featured_media":120725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/ea53cdeb-3c23-459e-90d8-43d91adb464f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-120724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/120724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=120724"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/120724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/120725"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=120724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=120724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=120724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}