Bitcoin whales, or large holders of the cryptocurrency, may potentially dump their holdings, leading to price volatility, according to a report. The surge in Bitcoin’s price has been driven by short-term holders, allowing long-term holders to increase their assets. Bitcoin has shown resilience during the recent stock market downturn and ended the month at a value of $26,980. However, the options market indicates potential volatility, with implied volatility at 36.4% and historical volatility at 27.1%. Increased taker buy volumes suggest retail investors are diversifying their portfolios.
AI Sentiment: Negative