Bitcoin Plunges Amid On-Chain Selling While Crypto Exchanges Expand in Latin America
Bitcoin Plunges Amid On-Chain Selling While Crypto Exchanges Expand in Latin America
Recent market movements show Bitcoin's price sharply falling below $110,000, attributed to significant on-chain selling activity by long-term holders. Concurrently, the European crypto exchange WhiteBIT announced a strategic expansion into the Latin American market, securing registrations in Argentina and planning a launch in Brazil.
Bitcoin Price Experiences Significant Downturn Due to On-Chain Selling
The Bitcoin market is currently facing a notable decline, with prices dipping below the $110,000 mark. Initially, macroeconomic factors were cited as the primary cause for the broader crypto market's woes. However, recent on-chain data has provided a clearer picture, indicating that substantial selling pressure from early investors, often referred to as "OGs," is largely responsible for the continued crash.
European Crypto Exchange WhiteBIT Expands into Latin American Markets
Parallel to the market's price movements, European crypto exchange WhiteBIT has announced its strategic expansion into Latin America. The exchange has successfully completed key registrations with Argentine regulators and is now preparing for its official launch in Brazil. This move signifies WhiteBIT's commitment to broadening its global presence and catering to emerging markets in the region.