{"id":22818,"date":"2025-04-08T13:35:43","date_gmt":"2025-04-08T10:35:43","guid":{"rendered":"https:\/\/forklog.com\/en\/investors-sold-36000-btc-at-a-loss-as-bitcoin-fell-through-75000\/"},"modified":"2025-04-08T13:35:43","modified_gmt":"2025-04-08T10:35:43","slug":"investors-sold-36000-btc-at-a-loss-as-bitcoin-fell-through-75000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/investors-sold-36000-btc-at-a-loss-as-bitcoin-fell-through-75000\/","title":{"rendered":"Investors sold 36,000 BTC at a loss as bitcoin fell through $75,000"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Support levels for the leading cryptocurrency are $69,000\u2013$70,000 and $71,600.<\/li>\n<li>There is an active shift of coins from wallets to exchanges, including bitcoins that had been idle for three to five years.<\/li>\n<li>On technicals, the market looks oversold on RSI.<\/li>\n<\/ul>\n<\/div>\n<p>On April 7, coins sold at a loss totalled 36,000 BTC (over $2.7bn). The catalyst was bitcoin\u2019s drop to a new year-to-date low \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-tumbles-below-75000\">below $75,000<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In the past 24 hours, 36K BTC were sold at a loss on exchanges \u2014 that&#8217;s not a lot compared to other days this year. <a href=\"https:\/\/t.co\/L73nDYVNlp\">pic.twitter.com\/L73nDYVNlp<\/a><\/p>\n<p>\u2014 Axel ?? Adler Jr (@AxelAdlerJr) <a href=\"https:\/\/twitter.com\/AxelAdlerJr\/status\/1909215432063492587?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The figure is smaller than the sell-offs seen in previous months.<\/p>\n<p>According to IntoTheBlock, $69,000 is now a key support for digital gold. Around this level, about 1.22m addresses accumulated roughly 464,000 BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to <a href=\"https:\/\/twitter.com\/intotheblock?ref_src=twsrc%5Etfw\">@intotheblock<\/a> , $69,000 is now a key <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> support zone.<\/p>\n<p>Over 1.22M addresses bought 464K+ BTC around this level\u2014showing strong historical demand and conviction. <a href=\"https:\/\/t.co\/qtNpQtTO5P\">pic.twitter.com\/qtNpQtTO5P<\/a><\/p>\n<p>\u2014 Kapoor Kshitiz (@kshitizkapoor_) <a href=\"https:\/\/twitter.com\/kshitizkapoor_\/status\/1909418417573986322?ref_src=twsrc%5Etfw\">April 8, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Glassnode highlighted support at $71,600 and $69,900.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?The downside may slow down a bit from here \u2014<br \/>\nbetween $74k and $70k, there&#8217;s a total of ~175k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> in cost basis clusters. <\/p>\n<p>?The single largest level within this range is $71.6k, holding ~41k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>?The next more substantial support sits at $69.9k, where ~68k <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> are held.<\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1909230197641032075?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CryptoQuant estimates that investors currently hold 5.12m BTC at a loss (25.8% of the circulating supply).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin in Loss: 5,124,348 BTC (25.8%)<\/p>\n<p>That\u2019s a significant chunk of the circulating supply sitting in the red. <\/p>\n<p>While it might seem alarming, it&#8217;s not unprecedented. <\/p>\n<p>In fact, we saw similar dips in 2024.<\/p>\n<p>?\ufe0f Jan 22, 2024: 24.1% \u2014 4.72M BTC<br \/>?\ufe0f July 06, 2024: 22.4% \u2014 5.13M BTC\u2026 <a href=\"https:\/\/t.co\/PpmfAID3ZF\">pic.twitter.com\/PpmfAID3ZF<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1909355170980569424?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cAlthough this may seem alarming, it is not unprecedented. In fact, we saw a similar dip in 2024,\u201d<\/em> <em>the specialists said.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>Attention, whales!<\/strong><\/h2>\n<p>Separately, analysts warned of 7,933 BTC \u201cwaking up\u201d after three to five years of dormancy. In their view, the coins may be linked to Coinbase. The experts noted persistent movements of large tranches of bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Old hands waking up! ??<\/p>\n<p>7,933 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> aged 3\u20135 years just moved on-chain \u2014 a clear spike in long-term holder activity.<\/p>\n<p>This cohort (likely Coinbase) has been consistently moving large chunks lately. Something\u2019s up, stay sharp. <a href=\"https:\/\/t.co\/0DMwX65ukB\">https:\/\/t.co\/0DMwX65ukB<\/a> <a href=\"https:\/\/t.co\/KkJ9vNxaLM\">pic.twitter.com\/KkJ9vNxaLM<\/a><\/p>\n<p>\u2014 Maartunn (@JA_Maartun) <a href=\"https:\/\/twitter.com\/JA_Maartun\/status\/1909350109768565011?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSomething\u2019s up, stay sharp,\u201d<\/em> <em>they said.<\/em><\/p>\n<\/blockquote>\n<p>The Exchange Inflow CDD indicator confirmed an increase in transfers from wallets to exchanges. The last time this happened, it preceded a drop in the leading cryptocurrency\u2019s price from $82,000 to $76,000, the analysts noted.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1499.webp\" alt=\"1-1499\" class=\"wp-image-256083\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/67f3d2690c912a79520bac79-Massive-spike-in-Exchange-Inflow-CDD-signals-old-coins-are-waking-up\">CryptoQuant<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Technical picture<\/strong><\/h2>\n<p>The drawdown from the <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> in the current cycle has widened to 26.62%. For comparison, it reached 83% and 73% in 2018 and 2022.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin&#8217;s current price drawdown is about to become the largest of the current cycle. <a href=\"https:\/\/t.co\/JQpck1lsdt\">pic.twitter.com\/JQpck1lsdt<\/a><\/p>\n<p>\u2014 Julio Moreno (@jjcmoreno) <a href=\"https:\/\/twitter.com\/jjcmoreno\/status\/1909281316928954400?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the weekly chart, bitcoin tested the 50-week <span data-descr=\"moving average\" class=\"old_tooltip\">MA<\/span> for the first time since September 2024. A close below this level would signal the start of a bear market, according to<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-on-verge-of-largest-price-drawdown-of-the-bull-market-analyst\"> Cointelegraph<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"506\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1062-1024x506.png\" alt=\"2-1062\" class=\"wp-image-256084\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1062-1024x506.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1062-300x148.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1062-768x379.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1062-1536x759.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/2-1062.png 1806w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: Cointelegraph.<\/figcaption><\/figure>\n<p>According to the publication, the $74,000 level (the all-time high from early 2024) is of interest. A daily demand zone between $65,000 and $69,000 could prove significant, with the upper boundary marked by the 2021 cycle peak.<\/p>\n<p>Cointelegraph also drew attention to the Relative Strength Index falling to 43, its lowest since January 2023.<\/p>\n<p>The crypto trader known as Rekt Capital, using this indicator, suggested that prices down to $70,000 could be the bottom of the current correction.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <\/p>\n<p>As a result, historical Daily RSI trends in this cycle suggest anything from current prices to ~$70000 is likely to be the bottom on this correction<a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/tHobd5BWpy\">https:\/\/t.co\/tHobd5BWpy<\/a> <a href=\"https:\/\/t.co\/0WgOx5D3Yh\">pic.twitter.com\/0WgOx5D3Yh<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1909280701960138783?ref_src=twsrc%5Etfw\">April 7, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, the firm\u2019s specialists <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-reports-intensified-bearish-conditions-for-bitcoin\">said<\/a> that bearish conditions in bitcoin are strengthening.<\/p>\n<p>Nansen <a href=\"https:\/\/u1f987.com\/en\/news\/nansen-predicts-crypto-market-bottom-by-june\">forecast<\/a> that the crypto market would find a bottom before June.<\/p>\n<p>CryptoQuant founder and CEO Ki Young Ju said <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-ceo-declares-end-of-bitcoin-bull-market\">the bull run is over<\/a> for digital gold. In his view, over the next six to 12 months prices will decline or move sideways.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Support levels for the leading cryptocurrency are $69,000\u2013$70,000 and $71,600. There is an active shift of coins from wallets to exchanges, including bitcoins that had been idle for three to five years. On technicals, the market looks oversold on RSI. On April 7, coins sold at a loss totalled 36,000 BTC (over $2.7bn). The catalyst [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1205,1273,1150,1268,1253],"class_list":["post-22818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptoquant","tag-glassnode","tag-news-plus","tag-on-chain-analysis","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22818"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22817"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}