Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»How BTC, ETH, and XRP were hit hard by panic selling
ALTCOIN NEWS

How BTC, ETH, and XRP were hit hard by panic selling

By Crypto FlexsJanuary 4, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
How BTC, ETH, and XRP were hit hard by panic selling
Share
Facebook Twitter LinkedIn Pinterest Email

  • Whale movements around major cryptocurrencies have caused confusion.
  • Retail interest in BTC eventually increased, but interest in ETH and XRP waned.

The recent surge in cryptocurrency prices, which signaled an optimistic period for the cryptocurrency sector, has been followed by a downward trend, and whales appear to be at the center of these market events.

whales move

Whale behavior has played a significant role in the decline of major cryptocurrencies. In particular, just before the market crash, one whale deposited 3,100 Bitcoin (BTC) worth $140 million into Binance (BNB).

The first 3,100 BTC withdrawn from HTX at $20,000 on October 6, 2022 resulted in a massive return of $78 million (+126%).

We found that the whale deposited 3,100. $BTC(USD 140 million) ~ #Binance Before the market crashed yesterday.

3,100 $BTC was withdrawn from #cooperative October 6, 2022 when the price was $20,000.

Revenue is ~$78M (+126%)! https://t.co/P3SxXKMWiZ pic.twitter.com/hQ7HbR0NCv

— Lookonchain (@lookonchain) January 4, 2024

However, not all whales experienced positive results. Data from Coinglass shows that $14.26 million worth of long-term orders are facing liquidation on Huobi.

A story about profit and loss

Despite these challenges, some whales saw falling prices as an opportunity. Following the BTC/ETH crash, two whale wallets strategically purchased Bitcoin (WBTC) and Ethereum (ETH) lapped at the market bottom.

For example, wallet 0x8B20 invested 1.5 million USD coins (USDC) to acquire 35.18 WBTC for $42,641 and used an additional 1.5 million USDC to purchase 674.18 ETH for $2,225.

Purchased 2 whale wallets after BTC/ETH crash $WBTC and $ETH At the bottom.

0x8B20 1.5 million consumed $USDC 35.18 Purchase $WBTC 1.5 million spent for $42,641 $USDC 674.18 purchases $ETH Price: $2,225. https://t.co/gKzuJwCPu8

0x4198 1.5 million consumed $USDC 35.12 Purchase $WBTC Spent $42,708… pic.twitter.com/ftmQKBbtXR

— Lookonchain (@lookonchain) January 3, 2024

This erratic whale behavior has raised concerns about the impact on both BTC and ETH. The unpredictable nature of whales causes volatility, influencing market sentiment and potentially contributing to further price movements.

Interestingly, despite the disruption caused by whales, retail interest in BTC has increased. However, if whales continue their bearish behavior, prices could fall further, which could have negative implications for these individual investors.

Source: Santiment

Conversely, retail interest in ETH has declined over the past few weeks. Nonetheless, the vulnerability of these individual investors to sudden whale movements has decreased.

The exodus of both retail and whale investors could spell trouble for ETH in the future.

Source: Santiment In addition to ETH, XRP has also struggled in the retail space. Recent data shows that retail interest in XRP has declined significantly at press time, with the price falling as much as 9%.


Read Bitcoin (BTC) Price Prediction for 2023-24


However, despite the decline in retail interest, there has been a notable surge in XRP trading volume, suggesting a potential disconnect between investor sentiment and trading activity.

Source: Santiment

At press time, BTC is trading at $42,544.09, down -1.13%. At the same time, the price of ETH was $2,222.61, representing a significant decline of -6.45% over the last 24 hours.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

GBM Launches Auction Festival With The Sandbox, Aavegotchi, Unstoppable Domains, And More

June 26, 2025

French “Spiderman” Scales Skyscraper To Launch World’s First Action Token

June 26, 2025

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025
Most Popular

The trader predicts one blue chip altcoin will explode by more than 260% this year and updated his outlook for Fetch.ai and Render.

April 28, 2024

XRP enthusiasts refute Ripple’s price manipulation claims.

March 8, 2024

Coinbase Lists These Solana-Based Tokens

April 9, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.