Giant Bitcoin Whale Saw 60K as Selling Opportunity: Is It a Peak Signal?

When the Bitcoin whale saw the price at $60,000, it took action to sell millions of dollars.

According to data provided by the on-chain analysis platform Lookonchain, a whale turned the rise in the Bitcoin price into a selling opportunity.

Current data revealed that the whale in question transferred 205 BTC worth $12.4 million to the cryptocurrency exchange Binance on September 14.

If the whale sells the Bitcoins in his possession, he will make a profit of $2.36 million.

This period, when the Bitcoin price is approaching $60,000, is considered a selling opportunity for many whales. This situation has revealed that volatility can increase at any time in the cryptocurrency markets.

Experts stated that they expect more whale movements, especially when the Bitcoin price approaches the psychological resistance of $60,000.

In addition, it was a matter of curiosity how such large sales will affect confidence in the market. If the whale's sale transaction is not received positively by the market, it is thought that Bitcoin may experience a pullback in the short term.

According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is trading at $59,800 at the time of writing.