Bitcoin Whale Holdings Remain Steady Amid Market Volatility

Cryptocurrency prices took a hit on Wednesday due to rising Treasury yields and tensions between the US and Iran.

The global cryptocurrency market capitalization fell 0.43% in the last 24 hours, reaching $2.69 trillion. Bitcoin (BTC) struggled to break over $80,000 as its trading volume dived 13%, while Ethereum (ETH) wobbled within a narrow range of $2,440-$2,522.

XRP and Dogecoin recorded sharp declines, with XRP falling 1.96% and Dogecoin plummeting 4.93%. The stock market also inched lower, with the Dow Jones Industrial Average tumbling 0.77% to end at 52,380.66.

Ali Martinez noted that Bitcoin whale holdings have stayed flat over the past week, suggesting large holders are waiting for the upcoming CPI report and FOMC meeting before making their next move.