anonymous bitcoin whale It may have recently triggered a massive selling panic in the cryptocurrency market. According to Ali Martinez’s post on
Bitcoin whale dumps 59,000 BTC.
In his X post, Martinez said: presentation The fact that Bitcoin whales have started massive dumps; sell Approximately 59,000 BTC. He shared a chart showing Bitcoin spending output age bands, showing that Bitcoin whales first acquired 59,346.950 BTC in the last six months of 2023.
A whopping 59,000 $BTCwas first purchased 3-6 months ago at an average price of $26,000 and has recently sold for an impressive return of 57.69%. This equates to a total profit of $885 million! pic.twitter.com/cxubNOTFdQ
— Ali (@ali_charts) January 19, 2024
According to estimates by cryptocurrency analysts, whales have purchased huge amounts of BTC at an average price of $26,000. With BTC’s current value nearly doubling since its initial purchase, the whale’s investment of 59,000 Bitcoin generated an outstanding return of 57.69%. This ratio works out to a total profit of approximately $885 million.
this recent Sell Bitcoin It adds to a series of similar whale activities recently observed in the cryptocurrency space. Shortly after the launch of Spot Bitcoin ETF, a Bitcoin whale. sold 2,742 BTC worth $127.7 million at the time. This strategic move resulted in significant profits of over $74 million. Additionally, according to a report by Whale Alert, 6,621 BTC worth over $276 million were discovered. transferred From the unknown whale wallet to the American cryptocurrency exchange Coinbase.
One whale deposited all 2,742. $BTC(USD 127.5 million) ~ #Binance to make a profit later #Bitcoin Spot ETF trading begins.
2,742 whales evacuated $BTC($53 million) #Binance The average price from October 7, 2022 to December 29, 2023 is $19,337.
Revenues exceeded $74 million! pic.twitter.com/1O96Z9ihie
— Lookonchain (@lookonchain) January 12, 2024
Typically in the cryptocurrency industry, small Bitcoin transactions have no impact on the market, but transactions worth hundreds of millions or even billions of dollars occur. Bitcoin This could potentially create massive selling pressure and have a negative impact on cryptocurrency prices.
BTCUSD trading at $41,544 on the daily chart: TradingView.com
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 6,621 #BTC (276,835,439 USD) was transferred from an unknown wallet to: #Coinbasehttps://t.co/foR4QhUxQH
— Whale Alert (@whale_alert) January 19, 2024
In this regard, Santiment, a popular market information platform. published X says the cryptocurrency market has been consistently experiencing downward trends that can cause panic among traders.
📉 #Cryptocurrency The overall market cap we are currently tracking continues to show a worrying decline, down -7.5% in the past week. that much #Bitcoin ETF Accreditation is increasingly seen as a classic ‘buy the rumor, sell the news’ event, but it’s still early days. When traders start to panic, pic.twitter.com/G6v1OCVVzz
— Santiment (@santimentfeed) January 18, 2024
A cryptocurrency data intelligence platform shared a chart showing the potential for a downside that could be triggered by fear, uncertainty, and doubt (FUD) among cryptocurrency traders and investors. Santiment said that if bearish sentiment causes traders to panic, massive sale This could potentially trigger a significant rebound in the market.
BTC falls below $42,000
2024 was predicted to be a strong year for cryptocurrencies, but Bitcoin price experience an unexpected decline Recently.
Initially, BTC surpassed its 2023 high of $49,000. However, the current cryptocurrency price is Trading below $42,000 mark. As of this writing, the price of Bitcoin is $41,487, reflecting 3.29%. rush Over the past seven days, according to CoinMarketCap.
Despite feelings of optimism approval Despite the launch of Spot ETF, Bitcoin failed to maintain its upward trend. Estimated price: $50,000 Provided by professional cryptocurrency analysts. Santiment suggested that the approval of the Spot Bitcoin ETF appears to be a classic case of “buying the rumor and selling the news.”
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