CryptoQuant analyst: Over-leveraging and a slowdown in buying led to a drop in BTC prices this morning
On December 6th, CryptoQuant analyst Maartunn posted on social media analyzing the reasons for BTC's price drop this morning, including:
The net order volume on the Binance platform shows a large amount of sell orders, with buying power slowing down;
This surge in BTC was driven by leverage, with open contracts growing more than 15%;
The above two signals overlapped when the market sentiment was "extremely greedy".
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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A wallet address sold 1.44 million TRX via SunSwap in exchange for 460,000 USDT.
Data: Whales have cumulatively withdrawn approximately 13.4 million USDT from a certain exchange.
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