- Whale accumulated 1,750 BTC from Binance in the past two days.
- SEC warns the crypto community – ‘Say “NO GO to FOMO”’
- If BTC breaks out from the bear flag, it may fall to $38K for support.
Lookonchain, a market analytical platform reported that a Whale accumulated 1,750 $BTC ($76.9 million) from Binance in the past 2 days at $43,953. This whale activity comes at the crucial stage where the market anticipates the BTC ETF approval.
Additionally, this smart whale accumulated 6,000 $BTC ($158.66 million) at $26,444 from August 24 to September 2 and then deposited 3,000 $BTC ($105.7 million) to Binance at $35,241, making $26.4 million.
When the whole crypto community has been hyped about a BTC ETF approval, the Securities Exchange Commission of the United States of America issued a FOMO (Fear Of Missing Out) warning.
An excerpt from the SEC’s “Say ‘NO GO to FOMO’” states:
And, just because others around you might be buying into these kinds of opportunities, it doesn’t mean you have to. Not every investment opportunity is right for everyone. Resist temptation and remember our phrase, “NO GO to FOMO.
The above statement from the SEC could mean a few things to the crypto community. It could be that the SEC actually cares about the community and warns it. And, this whale activity could be one of the events that the SEC warns about where the market manipulators do this to drive more investors.
Or, maybe the SEC is hinting that it won’t approve the BTC ETF proposal within the next few days or maybe even later. Whatever the outcome, trades may need to watch out.
At press time, BTC is trading at $44,019 after experiencing a drop of 0.06% within the last 24 hours. When considering the chart below, it can be noted that BTC has broken out from the bear flag.
Unlike a conventional breakout where BTC falls below the lower trendline, BTC has broken above the upper trendline. Hence, if BTC maintains its new gradient in the uptrend, it might hit approximately $48K. On the flip side, if BTC falls back into the bear flag, we could expect it to fall on $38K for support.
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