Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Finish Bitcoin price inches in the direction of all time-can Momentum?

2025-05-19

Only 5% will make it

2025-05-19

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

    2025-05-19

    Vitaminai and Blocx partner to stimulate security and productivity by bridging Web2 and Web3

    2025-05-19

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19
  • NFT

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Finish Bitcoin price inches in the direction of all time-can Momentum?

    2025-05-19

    XRP -Price confirms Bullish reversing settings with this demand zone

    2025-05-19

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»How traders can benefit from Bitcoin’s latest sell-off
Bitcoin

How traders can benefit from Bitcoin’s latest sell-off

2023-06-02No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • The supply of BTC on exchanges increased, suggesting it was under selling pressure
  • Bitcoin’s price is up 2% in the past seven days, but miners sold their holdings

The month of May was not in the interest of investors Bitcoins [BTC] price registered a decent drop. BTC fell 8% as May closed, the worst month since the last crypto winter. With about a 6% drop so far this quarter; is this the perfect time for investors to collect more Bitcoin?

Selling in May and leaving was correct. #Bitcoin Down 8% as May ends, worse month since Nov. 22.
Down about 6% year-to-date this quarter; it seems to me a perfect accumulation after such a strong Q1. pic.twitter.com/Av2Hi7X5Mi

— James V. Streets (@jimmyvs24) May 31, 2023

Bitcoin under attack

BTC’s weekly chart finally turned green after several days of sideways price action. According to CoinMarketCapthe price of BTC is up more than 2% in the past seven days.

At the time of writing, it was trading at $26,890.89 with a market cap of over $521 billion. However, the latest data suggested that the uptrend could end soon as selling pressure on BTC intensifies.

Bitcoin recently witnessed its 5th biggest sell-off this year. BTC valued at over $400 million was sold primarily by Coinbase, suggesting the coin was under selling pressure.

Yesterday saw nearly $400M of it #Bitcoin sold, the fifth highest amount this year, mainly from @coinbase.
Rising #DXY and a lack of liquidity related to the debt ceiling could have bearish implications going forward. pic.twitter.com/YdbXoFm5aH

— James V. Streets (@jimmyvs24) May 31, 2023

Not only this, but data from Santiment also suggested the same result. The supply of BTC on exchanges increased, while the off-exchange supply was quite stagnant, which was a typical bearish signal.

See also  Bitcoin miners are heading for tough times as halving cuts rewards by more than 90%

Moreover, Bitcoin inflows also peaked, further increasing the likelihood of a price drop in the coming days.

Source: Sentiment

To add to the aforementioned story, the selling pressure also affected the sentiments surrounding the king of cryptos. According to the chart, BTCWeighted sentiment fell from a peak on May 29.

This reflected negative sentiment dominating the market. However, social dominance remained high, reflecting BTC’s popularity in the crypto market.

Source: Sentiment

These stats favored the bears…

A look at CryptoQuant’s facts revealed that BTC net deposits to exchanges were higher compared to the past seven days, further pointing to selling pressure. In addition, it was interesting to note that miners sold their assets.

Bitcoin’s Miners’ Position Index (MPI) was red, suggesting miners sold more positions compared to the year-over-year average.

Source: CryptoQuant


Read Bitcoins [BTC] Price prediction 2023-24


Is Now the Right Time to Collect Bitcoin?

BTC could be witnessing another price correction as several market indicators turned bearish. The Moving Average Convergence Divergence (MACD) showed the possibility of a bearish crossover.

The Relative Strength Index (RSI) registered a downturn, which looked worrying. However, Bitcoin’s Money Flow Index (MFI) moved up slightly, which was a positive sign.

Therefore earlier BTC starts its next bull rally, this could be a good opportunity for investors to collect more BTC.

Source: TradingView



Source link

benefit Bitcoins Latest selloff traders
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Whales that are used heavily on Bitcoin Longs – this is why this can work out counterproductive!

2025-05-19

Ethereum cools down as Bitcoin Strances: the rotation game of Smart Money Decoding!

2025-05-19

Bitcoin’s transaction costs rises to a YTD height of $ 2.4

2025-05-19

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Ethereum ETF: Will Michigan Pension Fund’s Move Make ETH Go Green?

2024-11-05

DeBridge introduces Hooks for real-time data transfer via DeFi

2024-10-09

Cardano (ADA) Outperforms Previous Bear Cycle, CEO of ITC Crypto Reveals

2023-06-27
Editors Picks

Shiba Inu Price Printing Rare Buying Signal, What You Need to Know

2023-10-25

EU’s vision for an open and secure metaverse

2023-07-07

Bitcoin ‘holds its ground’ amid multiple signals that rate hikes could continue

2023-07-09

XRP -price weakened gradually: can it find support?

2025-02-07
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Finish Bitcoin price inches in the direction of all time-can Momentum?

Only 5% will make it

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,102.450.61%
  • ethereumEthereum(ETH)$2,507.883.11%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.37-0.68%
  • binancecoinBNB(BNB)$648.510.67%
  • solanaSolana(SOL)$165.56-1.83%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.223465-1.06%
  • cardanoCardano(ADA)$0.74-0.43%
  • tronTRON(TRX)$0.265510-0.17%
  • suiSui(SUI)$3.81-0.02%
  • chainlinkChainlink(LINK)$15.721.38%
  • avalanche-2Avalanche(AVAX)$22.10-1.68%
  • stellarStellar(XLM)$0.284120-1.31%
  • hyperliquidHyperliquid(HYPE)$26.360.01%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.68%
  • hedera-hashgraphHedera(HBAR)$0.191283-0.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.680.13%
  • bitcoin-cashBitcoin Cash(BCH)$391.07-1.90%
  • the-open-networkToncoin(TON)$3.01-3.56%
  • litecoinLitecoin(LTC)$98.77-0.26%
  • polkadotPolkadot(DOT)$4.57-2.04%
  • moneroMonero(XMR)$343.950.67%
  • bitget-tokenBitget Token(BGB)$5.191.90%
  • pepePepe(PEPE)$0.000013-0.18%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.73-1.24%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • uniswapUniswap(UNI)$5.920.04%
  • aaveAave(AAVE)$239.996.35%
  • bittensorBittensor(TAO)$405.71-2.64%
  • nearNEAR Protocol(NEAR)$2.74-0.72%
  • aptosAptos(APT)$5.140.86%
  • okbOKB(OKB)$52.22-0.99%
  • ondo-financeOndo(ONDO)$0.92-0.47%
  • ethereum-classicEthereum Classic(ETC)$18.400.99%
  • kaspaKaspa(KAS)$0.106269-3.67%
  • internet-computerInternet Computer(ICP)$5.17-0.66%
  • gatechain-tokenGateToken(GT)$21.40-0.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.79-1.42%
  • crypto-com-chainCronos(CRO)$0.095688-2.05%
  • mantleMantle(MNT)$0.73-0.81%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231400-2.13%
  • vechainVeChain(VET)$0.027856-1.30%
  • render-tokenRender(RENDER)$4.54-0.38%
  • usd1World Liberty Financial USD(USD1)$1.00-0.04%
  • ethenaEthena(ENA)$0.361581-3.23%
  • filecoinFilecoin(FIL)$2.850.00%
  • algorandAlgorand(ALGO)$0.220517-0.29%
  • arbitrumArbitrum(ARB)$0.3881711.37%
  • bitcoinBitcoin(BTC)$105,102.450.61%
  • ethereumEthereum(ETH)$2,507.883.11%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.37-0.68%
  • binancecoinBNB(BNB)$648.510.67%
  • solanaSolana(SOL)$165.56-1.83%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.223465-1.06%
  • cardanoCardano(ADA)$0.74-0.43%
  • tronTRON(TRX)$0.265510-0.17%
  • suiSui(SUI)$3.81-0.02%
  • chainlinkChainlink(LINK)$15.721.38%
  • avalanche-2Avalanche(AVAX)$22.10-1.68%
  • stellarStellar(XLM)$0.284120-1.31%
  • hyperliquidHyperliquid(HYPE)$26.360.01%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.68%
  • hedera-hashgraphHedera(HBAR)$0.191283-0.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.680.13%
  • bitcoin-cashBitcoin Cash(BCH)$391.07-1.90%
  • the-open-networkToncoin(TON)$3.01-3.56%
  • litecoinLitecoin(LTC)$98.77-0.26%
  • polkadotPolkadot(DOT)$4.57-2.04%
  • moneroMonero(XMR)$343.950.67%
  • bitget-tokenBitget Token(BGB)$5.191.90%
  • pepePepe(PEPE)$0.000013-0.18%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.73-1.24%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • uniswapUniswap(UNI)$5.920.04%
  • aaveAave(AAVE)$239.996.35%
  • bittensorBittensor(TAO)$405.71-2.64%
  • nearNEAR Protocol(NEAR)$2.74-0.72%
  • aptosAptos(APT)$5.140.86%
  • okbOKB(OKB)$52.22-0.99%
  • ondo-financeOndo(ONDO)$0.92-0.47%
  • ethereum-classicEthereum Classic(ETC)$18.400.99%
  • kaspaKaspa(KAS)$0.106269-3.67%
  • internet-computerInternet Computer(ICP)$5.17-0.66%
  • gatechain-tokenGateToken(GT)$21.40-0.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.79-1.42%
  • crypto-com-chainCronos(CRO)$0.095688-2.05%
  • mantleMantle(MNT)$0.73-0.81%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231400-2.13%
  • vechainVeChain(VET)$0.027856-1.30%
  • render-tokenRender(RENDER)$4.54-0.38%
  • usd1World Liberty Financial USD(USD1)$1.00-0.04%
  • ethenaEthena(ENA)$0.361581-3.23%
  • filecoinFilecoin(FIL)$2.850.00%
  • algorandAlgorand(ALGO)$0.220517-0.29%
  • arbitrumArbitrum(ARB)$0.3881711.37%