Bitcoin’s ascent above $19,500 was cut short early on Tuesday, possibly due to profit taking by large Asia-based investors, according to one analyst.
“I think Asian whales sold around $19,500 causing prices to drop,” Ki Young Ju, CEO of South Korea-based blockchain analytics firm CryptoQuant, told CoinDesk, referring to those with big crypto holdings. He highlighted an increased inflow of coins onto crypto exchange heavyweight Huobi Global, which has a Hong Kong presence, soon before prices began falling.
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