Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million
Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community.
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Slumber
Bitcoin May Soon Wake From Slumber, Derivatives Data Indicate
Per Glassnode, bitcoin's funding rates recently dipped to negative territory. This, coupled with high open interest, suggests leverage is skewed to the bearish side. So, if bitcoin continues to move sideways, the funding payment would become a burden for shorts, and they may decide to unwind their position, leading to
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