Market
Crypto Whales Dump $148 Million in Bitcoin and Ethereum

Crypto whales significantly impact market trends by offloading substantial amounts of Bitcoin (BTC) and Ethereum (ETH). Recent data indicate a continued pattern of these extensive sales, totaling over $148 million in crypto, moved to various exchanges for probable liquidation.
Since last week, Bitcoin has been trying to recover after dipping to $58,500. Attempts to rally were evident; Bitcoin nearly reached $64,000 on Monday. However, increased selling pressure forced prices below $63,000.
Bitcoin ETFs Recorded $129 Million in Inflows While Crypto Whales Sell
On Monday, a prominent crypto whale linked to the wallet address 3G98j transferred 1,800 BTC valued at $114 million to Binance at around $63,333. This move typically signals an intent to cash out, reflecting a common strategy among crypto whales during market volatility.
“The Bitcoin price started declining after the whale unloaded BTC,” Spot On Chain said.
Further analysis highlights a significant shift in trading behavior. From June 19 to 21, the crypto whale withdrew 6,725 BTC, valued at $437 million, from Binance and OKX at an average price of $65,008.
Read more: Bitcoin (BTC) Price Prediction 2024/2025/2030
This marked the crypto whale’s first major BTC accumulation in over 1.5 years. However, as prices declined by over 4.11%, the crypto whale has sent 3,481 BTC back to Binance in the past five days, indicating a bearish sentiment.
Historically, this crypto whale has shown strategic trading acumen, netting about $1 billion from BTC transactions between 2022 and 2024. During the 2022 bear market, he amassed 41,000 BTC at an average of only $19,000. He later capitalized on this by unloading 37,000 BTC at around $46,800 during the bull markets of 2023 and 2024.
Ethereum has also seen similar whale activities. On early Monday, the crypto wallet 0xedo, allegedly associated with Abraxas Capital, deposited 42,000 ETH, worth approximately $34.78 million to Bitfinex. Despite these large transactions, this crypto whale still holds a significant position in ETH, with over $112 million currently spread across lending and farming platforms like Spark, GearBox, and Stargate, securing a profit of $4.53 million.
Meanwhile, there has been a glimmer of hope for Bitcoin investors. Spot Bitcoin ETFs recorded a substantial inflow on Monday, with $129 million entering the market.
This is the highest in the past 16 trading days. The Fidelity Wise Origin Bitcoin Fund attracted the largest inflow, with $65 million. Moreover, both BlackRock’s iShares Bitcoin Trust and Grayscale Bitcoin Trust reported 0 inflows on Monday.
Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

This contrast between whale sell-offs and significant ETF inflows illustrates the complex and often contradictory forces shaping the crypto market. Such insights are essential for anticipating market shifts and protecting investments, ensuring stakeholders remain informed and vigilant.
Moreover, Bitcoin bull Tom Lee has predicted that Bitcoin will still hit $150,000 by the end of the year. He believes that after the market absorbs the effect of Mt. Gox sell-offs, Bitcoin can strongly rebound.
“If I was investing in crypto, knowing that one of the biggest overhangs will disappear in July, I think it’s a reason to expect a sharp rebound in the second half. I think 150 is still within,” Lee said.
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Market
Cardano (ADA) Downtrend Deepens—Is a Rebound Possible?

Cardano price started a recovery wave above the $0.680 zone but failed. ADA is consolidating near $0.650 and remains at risk of more losses.
- ADA price failed to recover above the $0.70 resistance zone.
- The price is trading below $0.680 and the 100-hourly simple moving average.
- There was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair (data source from Kraken).
- The pair could start another increase if it clears the $0.70 resistance zone.
Cardano Price Dips Again
In the past few days, Cardano saw a recovery wave from the $0.6350 zone, like Bitcoin and Ethereum. ADA was able to climb above the $0.680 and $0.6880 resistance levels.
However, the bears were active above the $0.70 zone. A high was formed at $0.7090 and the price corrected most gains. There was a move below the $0.650 level. Besides, there was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair.
A low was formed at $0.6356 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. Cardano price is now trading below $0.680 and the 100-hourly simple moving average.
On the upside, the price might face resistance near the $0.6720 zone or the 50% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. The first resistance is near $0.6950. The next key resistance might be $0.700.
If there is a close above the $0.70 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.7420 region. Any more gains might call for a move toward $0.7650 in the near term.
Another Drop in ADA?
If Cardano’s price fails to climb above the $0.6720 resistance level, it could start another decline. Immediate support on the downside is near the $0.6420 level.
The next major support is near the $0.6350 level. A downside break below the $0.6350 level could open the doors for a test of $0.620. The next major support is near the $0.60 level where the bulls might emerge.
Technical Indicators
Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.
Major Support Levels – $0.6420 and $0.6350.
Major Resistance Levels – $0.6720 and $0.7000.
Market
XRP Price Under Pressure—New Lows Signal More Trouble Ahead

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Market
Bitcoin Price Swings Wildly—Yet Bears Keep the Upper Hand!

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Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone.
- Bitcoin started a decent recovery wave above the $84,500 zone.
- The price is trading near $83,500 and the 100 hourly Simple moving average.
- There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it stays above the $82,200 zone.
Bitcoin Price Dips Sharply
Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave above the $83,500 resistance zone.
The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels.
There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low.
Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level.

The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.
More Losses In BTC?
If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,800 level. The first major support is near the $82,200 level.
The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $82,800, followed by $82,200.
Major Resistance Levels – $84,200 and $85,500.
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