plummeted 17% as the project's multisig wallet, one of the single largest holders of the token, transferred coins to exchanges potentially to dump on the market."Bitcoin has been trading as a risk-on asset and is therefore subject to macro pressures," Sacha Ghebali, director of strategy at digital asset data provider The Tie, said in an interview with CoinDesk TV Friday morning.
"Historically, BTC trading below its 200-day average has been correlated with a market in a bear state," Ghebali said."The market may still be digesting the sell-off last week."
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