Bitcoin Correction Incoming? Bhutan Moves BTC Worth $60M To Binance
Portfolio Pulse from Aniket Verma
Bhutan transferred $60 million worth of Bitcoin to Binance, sparking speculation of profit-taking as Bitcoin nears all-time highs. This marks the first such transfer in four months.
October 30, 2024 | 4:32 am
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Bhutan's transfer of $60 million in Bitcoin to Binance suggests potential profit-taking, which could lead to a short-term price correction as Bitcoin approaches all-time highs.
The transfer of a large amount of Bitcoin by a state entity like Bhutan to an exchange like Binance often indicates a potential sell-off. This could lead to a short-term price correction, especially as Bitcoin is nearing all-time highs, prompting profit-taking behavior.
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