Bit Digital bought $20 million ETH for first time since October before 15% plunge
Hex37's read
- Bit Digital acquired 8,568 ETH for $20 million on May 11.
- This was their first ETH purchase since October.
- ETH has since dropped 15%, causing a $3M unrealized loss.
What it means for traders
- Large institutional buying can precede price drops, indicating potential market tops.
- Consider monitoring whale activity for signs of potential reversals or profit-taking.
Affected markets
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