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Bitcoin needs to clear $51K to reduce the chance of new sell-off from BTC whales
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Bitcoin (BTC) whales are the center of attention again this week as large transactions flow back to exchanges.
Data from on-chain analytics platform CryptoQuant on Dec. 24 shows that relatively, whales are increasing their presence as potential sellers.
According to CryptoQuant’s Exchange Whale Ratio indicator, the proportion of large inflows to exchanges out of total inflows is now at a one-year high.
Inflows sped up significantly as BTC/USD rose to $51,000 overnight on Thursday, and the
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