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Bitcoin met resistance at $105,706, slightly below its all-time high, before entering a sideways consolidation. The pullback altered the prevailing sentiments around the cryptocurrency, leading to indecision among users, especially retail traders.
A close observation reveals massive sell orders just below Bitcoin’s all-time high, triggering curiosity among traders who became inquisitive about why such sell walls appeared and their implications for the cryptocurrency’s future.
For context, crypto traders describe sell walls as massive orders to sell a digital asset, in this case Bitcoin, concentrated around a specific price region. These walls often emerge after the BTC price has made a strong rally, signaling that institutional traders or large holders, often called crypto whales, might be looking to take profits…
The post Bitcoin Sell Walls: Whales Cashing Out or Setting Trap Near BTC All-Time High? appeared first on Coin Edition.
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