Is Bitcoin the Turning Point at the End of June? The Price May Have Reached a Bottom for Now! - Coin Bulletin

The high amounts of profit and loss realizations that occurred in the last week of June for Bitcoin, (BTC), indicate that the price may have temporarily reached a dip level.

Large investors known as whales in Bitcoin revealed quite an interesting picture towards the end of June. According to data shared by a CryptoQuant analyst, new whales made a total profit of 641 million dollars while realizing losses of more than 1 billion 240 million dollars during the same period. This unusual situation may indicate that a significant internal transformation is taking place in the market.

On the other hand, long-term and older investors were more cautious. This group realized a profit of only 91 million dollars, while the loss figures remained very low. This situation reveals that some investors who entered Bitcoin, especially in the early period of the second quarter, closed their positions because they were still in profit, while those who entered the market recently panicked and made sales.

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What do the movements of Bitcoin whales mean?

The significant loss realizations, especially by short-term investors, are historically seen as a sign that the market is approaching its bottom points. The volatility experienced at the end of June could also be related to the ETF and institutional funds' mid-year portfolio balancing. According to a CryptoQuant analyst, it is possible to say that these movements are not random but a conscious position change.

The strong wave of realization seen at the end of June calming down at the beginning of July strengthens the interpretations that the market may have found its bottom for now. However, according to the CryptoQuant analyst, no signal is definitive, and therefore it is important to closely monitor market movements.