Bitcoin Whale Moves Significant Amounts, Sparks Market Speculation.
A Bitcoin (BTC) whale has recently gained attention with a notable transaction involving a significant amount of BTC. According to on-chain data provider Lookonchain, this investor, holding approximately 8,000 BTC worth around $6.99 billion, transferred 300 BTC (approximately $26.27 million) to the Binance exchange. This transaction by the large investor has led to speculation in the cryptocurrency market.
Previous High-Value Sales.
Data indicates that this whale previously sold 2,000 BTC at a unit price of $67,130 on April 4 and April 5, 2024, earning a total profit of $132.4 million. This sales move occurred after the price of the largest cryptocurrency reached its peak at that time.
Now, the investor appears to signal a return to the market by transferring a smaller amount of Bitcoin to Binance.
This action suggests that the investor dynamically adjusts their sales strategy based on market movements.
Whale Activity Raises Investor Concerns.
In the past 10 hours, the whale moved 2,000 BTC for sale, raising concerns among market participants. The whale transferred 300 BTC to the Binance exchange, and such large transfers often lead to speculation about a decline, exerting selling pressure on the market.
Currently, Bitcoin is trading at $87,329, reflecting a 1.19% decrease in the past 24 hours. Despite this drop, data shows that the major cryptocurrency has surged by 17.89% over the last week. Additionally, Bitcoin's trading volume in the last 24 hours exceeded $115 billion, with a total market capitalization of $1.72 trillion.
