Bitcoin Price Plunge Predicted: Standard Chartered Sees $69K-$76.5K by Monday

Standard Chartered Bank has forecasted a further decline in the price of Bitcoin, predicting it to drop to a range of $69,000 to $76,500 by Monday. This projection comes amidst a volatile cryptocurrency market, with significant movements in various digital assets.

In recent hours, several notable transactions have taken place. Five wallets that had been dormant for 2.5 years transferred a total of 5,842 ETH to OKX, potentially realizing a profit of approximately $2.33 million. This transaction suggests that some investors may be taking advantage of the current market conditions to cash out their holdings.

Two years ago, a large investor, or "whale," who had accumulated 1,815 ETH, completed an exit by selling off 2,375 ETH. This transaction indicates that whales may be adjusting their portfolios in response to market fluctuations. Meanwhile, another whale has increased its holdings by 227,600 TRUMP tokens, with an average purchase price of $11.66. This move suggests that some investors remain bullish on certain altcoins despite the overall market volatility.

Mirana Ventures has also been active in the market, averaging a price of $2,134 to build a position of 21,667 ETH, totaling approximately $46.25 million. This significant investment indicates that some institutional investors continue to show interest in the cryptocurrency market, potentially driving future growth.

The cryptocurrency market remains dynamic, with both individual and institutional investors actively participating in transactions. As Standard Chartered Bank's prediction suggests, the market may continue to experience volatility in the near term. However, the long-term outlook for cryptocurrencies remains uncertain, and investors should remain vigilant in monitoring market developments.