Is it time to buy Bitcoin after whales shed their positions?

started trading below the $70k-mark. While the market’s condition remained somewhat bearish, some big players across the crypto space chose to exit it. Hence, the question – Does this mean investors should no longer consider accumulating BTC? Let’s find out.revealed that BTC hasn’t managed to climb above $70k since 10 June. In fact, the king of cryptos fell victim to a massive price correction, pushing it under $67k. At the time of writing, BTC was trading at $66,196.

The Relative Strength Index is also a crucial indicator. According to Lookonchain’s data, BTC’s RSI had a value of 69.93. This, when compared to historical data, implied that BTC has still not reached a market top. Apart from this, the 200-week moving average heat map highlighted that the prevailing price point was blue. Simply put, the price top has not been reached yet, and it is time to hold and buy.

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