Summary:
A Bitcoin whale moved 15,945 Bitcoin to Binance, raising concerns about a potential price drop.
Miner capitulation is also contributing to the downward pressure, with declining daily revenue and network hashrate.
Bitcoin options expiring on June 28th, with a put-call ratio of 0.49 and a max pain point of $55,000, suggest continued selling pressure.
Implied volatility is declining, increasing the likelihood of Bitcoin price falling below $65,000.
Bitcoin price is currently at $66,955, down 1% in the last 24 hours and 6% in the past week.
Trading volumes have decreased by over 30% in the past 24 hours, signaling reduced trader interest.
A Bitcoin whale moved 15,945 Bitcoin in a single transaction to Binance, fueling concerns of a severe price drop. This massive whale dump coincides with miner capitulation as daily revenue and network hashrate decline. Meanwhile, Bitcoin options with a put-call ratio of 0.49 and a max pain point at $55,000 suggest continued selling pressure. Implied volatility is also declining, indicating a high probability of BTC price falling below $65,000. Traders should be aware of these factors and prepare for potential volatility in the market. Bitcoin price is currently trading at $66,955, down 1% in the last 24 hours and 6% in a week. Trading volumes have also declined by more than 30% in the last 24 hours.
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